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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > North Richland Hills, Business Loans > The Frost National Bank North Richland Hills Business Loans > Maaco Auto Painting & Bodywork Loan | ||||
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The Frost National Bank Franchise Loans
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Dallas, TX Entrepreneur Gets SBA Loan to Buy Maaco Auto Painting Center FranchiseNeed a loan to invest in a Maaco Auto Painting Center franchise? The Frost National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Dallas, Texas needed money to invest in a Maaco Auto Painting Center franchise back in 2003. The Frost National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower MAACO AUTO PAINTING & BODYWORK SBA Loan Lender THE FROST NATIONAL BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 8/7/2003 Loan Approval Gross Amount $103,000 Loan Approval from the SBA Of the total $103,000 loan amount, the SBA guaranteed $87,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Frost National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Frost National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banks in North Richland Hills, Texas
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