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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Grand Prairie, Business Loans > Grand Bank Of Texas Grand Prairie Business Loans > General Automotive Repair Shops Loan | ||||
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Grand Bank Of Texas Business Loan
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Arlington, Texas Business Gets SBA-Guaranteed Funding from Grand Bank Of TexasGrand Bank Of Texas and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Arlington, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Grand Bank Of Texas, based in Grand Prairie, Texas. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender GRAND BANK OF TEXAS This loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. 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 5/22/2002 Loan Approval Gross Amount $1,206,000 Loan Approval from the SBA Of the total $1,206,000 loan amount, the SBA guaranteed $904,500. 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 9 employees. This SBA loan request did not indicate that the company promised 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) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Grand Bank Of Texas are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Obtaining Funding - How to Decide How Much to Raise Best Banks in Grand Prairie, Texas
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