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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Security Service Fcu San Antonio Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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San Antonio, Texas Bank Loan
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Financing for Automotive Mechanical and Electrical Repair and MaintenanceWith these commercial 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 $184,500 was given to a Texas entrepreneur in 2006. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Security Service Fcu, out of San Antonio, Texas. The loan was granted and they received $184,500 to help grow their San Antonio, Texas business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender SECURITY SERVICE FCU The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 3/24/2006 Loan Approval Gross Amount $184,500 Loan Approval from the SBA Of the total $184,500 loan amount, the SBA guaranteed $92,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Role of Business Plan When Raising Money SBA Approved Banks in San Antonio, Texas
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