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May 9, 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 > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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Grand Prairie, Texas Bank Loan
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Getting an SBA Loan for Automotive Mechanical and Electrical Repair and MaintenanceWith these business loans for automotive mechanical and electrical repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive mechanical and electrical repair and maintenance loan for $40,000 was given to a Texas entrepreneur in 2004. This business knew how to go about getting a business bank loan. Based in Grand Prairie, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Grand Bank Of Texas, based in Grand Prairie, Texas. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE 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 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 8/25/2004 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. We've showcased information on this loan to let you know that businesses like yours 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: SBA 7A Banks in Grand Prairie, Texas
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