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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Automotive Oil Change And Lubrication Shops Loan | ||||
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Raising Money in Denton, Texas With SBA Loans
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SBA Loans for Automotive Oil Change and Lubrication ShopsLooking for SBA loans for automotive oil change and lubrication shops? An SBA loan may be just what you've been looking for. This $843,000 automotive oil change and lubrication shops loan was issued by an Alabama bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Denton, Texas was able to borrow $843,000 from Compass Bank. The SBA made the loan possible by guaranteeing $632,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender COMPASS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 1/16/2002 Loan Approval Gross Amount $843,000 Loan Approval from the SBA Of the total $843,000 loan amount, the SBA guaranteed $632,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $843,000. How would you spend $843,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Business Banks in Birmingham, Alabama Where to Get an SBA Loan Alabama
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