Getting an SBA Loan for General Automotive Repair

Looking for SBA loans for general automotive repair? An SBA loan may be just what you've been looking for. This $81,100 general automotive repair loan was issued by a Texas bank.

Getting a small business loan in White Deer, Texas was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust Company, operating out of Lubbock, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
WHITE DEER, TX 79097

SBA Loan Lender

FIRST BANK & TRUST COMPANY
7806 INDIANA AVE
LUBBOCK, TX 79423

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/13/2000

Loan Approval Gross Amount

$81,100

Loan Approval from the SBA

Of the total $81,100 loan amount, the SBA guaranteed $64,880.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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