United Central Bank Provides SBA Loan to Buy Rent-A-Wreck car Rental Franchise

Need money to buy a Rent-A-Wreck car Rental franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rent-A-Wreck car Rental franchise may simply require a phone call to a local SBA banker. In 2001, United Central Bank issued an SBA franchise loan to an entrepreneur in Houston, Texas. Because Rent-A-Wreck car Rental was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

RENT-A-WRECK OF HOUSTON
HOUSTON, TX 77074

SBA Loan Lender

UNITED CENTRAL BANK
8585 S GESSNER
HOUSTON, TX 77074

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532111 - Passenger Car Rental

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rent-A-Wreck car Rental franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, feel the fear, and do it anyway.

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.

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Rent-A-Wreck

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SBA Approved Banks in Houston, Texas

Where to Get an SBA Loan Texas