Loan to Buy Cottman Transmission Franchise Issued By International Bank Of Commerce

Need money to buy a Cottman Transmission franchise? International Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

If you live near Boerne, Texas and are interested in buying a Cottman Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by International Bank Of Commerce. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

COTTMAN TRANSMISSION SYSTEMS
BOERNE, TX 78006

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
1200 SAN BERNARDO ST
LAREDO, TX 78040

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$84,600

Loan Approval from the SBA

Of the total $84,600 loan amount, the SBA guaranteed $71,910.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like International Bank Of Commerce and they will explain how you can get an SBA loan for your company.

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:

Cottman Transmissions

Small Business Loan

Small Business Banks in Laredo, Texas

Getting a Business Loan in Texas