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April 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Grand Prairie, Business Loans > Grand Bank Of Texas Grand Prairie Business Loans > Parks Automotive,Inc. Loan | ||||
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Banks for Franchise Loans in Texas
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Texas Entrepreneur Secures Financing to Buy Lee Myles Automotive Transmissions FranchiseBorrowing money to buy a Lee Myles Automotive Transmissions franchise? Grand Bank Of Texas has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Lee Myles Automotive Transmissions franchise? If so, here's a 2003 SBA franchise loan that you should know about. Grand Bank Of Texas was the lender and the entrepreneur was based in Frisco, Texas. SBA Loan Borrower PARKS AUTOMOTIVE,INC. SBA Loan Lender GRAND BANK OF TEXAS This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/16/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Grand Bank Of Texas are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Lee Myles Transmissions and Autocare Good Banks for Small Business in Grand Prairie, Texas
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