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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Bryan, Business Loans > Franklin Bank S.S.B. Bryan Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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How to Get SBA Loans in Bryan, Texas
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Raising Money for Automotive Body, Paint, and Interior Repair and MaintenanceLooking for business loans for automotive body, paint, and interior repair and maintenance? An SBA loan may be just what you've been looking for. This $350,000 automotive body, paint, and interior repair and maintenance loan was issued by a Texas bank. This business knew how to go about getting a business bank loan. Based in Bryan, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Franklin Bank S.S.B., based in Bryan, Texas. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender FRANKLIN BANK S.S.B. This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 5/1/2007 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links:
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