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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Paso, Business Loans > United Bank - El Paso Del Norte El Paso Business Loans > Automotive Repair And Maintenance Loan | ||||
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SBA Lenders in Texas
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El Paso, Texas Business Gets SBA-Guaranteed Funding from United Bank - El Paso Del NorteAn SBA loan from United Bank - El Paso Del Norte typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Paso, Texas business owner got a $228,000 loan. Getting a small business loan in El Paso, Texas was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from United Bank - El Paso Del Norte, operating out of El Paso, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender UNITED BANK - EL PASO DEL NORTE This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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. NAICS Code 811198 - Automotive Repair and Maintenance Loan Approval Date 7/22/2004 Loan Approval Gross Amount $228,000 Loan Approval from the SBA Of the total $228,000 loan amount, the SBA guaranteed $171,000. 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 3 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 Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Bank - El Paso Del Norte and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in El Paso, Texas
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