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May 7, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Laredo, Business Loans > International Bank Of Commerce Laredo Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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Advice for Businesses On Getting a Loan
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Automotive Mechanical and Electrical Repair and Maintenance Small Business LoansLooking for small business loans for automotive mechanical and electrical repair and maintenance? Talk to a banker who works with the SBA. This $18,000 automotive mechanical and electrical repair and maintenance loan was issued by a Texas bank. Getting a small business loan in Laredo, Texas was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from International Bank Of Commerce, operating out of Laredo, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender INTERNATIONAL BANK OF COMMERCE 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 11/28/2000 Loan Approval Gross Amount $18,000 Loan Approval from the SBA Of the total $18,000 loan amount, the SBA guaranteed $14,400. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Laredo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Participating Banks in Laredo, Texas
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