Texas Entrepreneur Secures Financing to Buy Lee Myles Automotive Transmissions Franchise

Need money to buy a Lee Myles Automotive Transmissions franchise? Grand Bank Of Texas has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Watauga, Texas needed money to invest in a Lee Myles Automotive Transmissions franchise back in 2004. Grand Bank Of Texas issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

DAN'S PLACE
WATAUGA, TX 76148

SBA Loan Lender

GRAND BANK OF TEXAS
2341 S BELTLINE RD
GRAND PRAIRIE, TX 75051

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/18/2004

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you need business start up money in Watauga TX, you ought to talk with a local Watauga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Watauga businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $750,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Lee Myles Transmissions and Autocare

Debt Financing

Small Bank Loans in Grand Prairie, Texas

SBA Lenders in Texas