Automotive Transmission Repair SBA Loans
Looking for SBA loans for automotive transmission repair? The SBA may be the answer. This $128,000 automotive transmission repair loan was issued by a Texas bank.
Getting a small business loan in Abilene, Texas was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Finan Bank, operating out of Abilene, Texas. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
ABILENE, TX 79603
SBA Loan Lender
FIRST FINAN BANK
400 PINE ST
ABILENE, TX 79601
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.
811113 - Automotive Transmission Repair
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $128,000 loan amount, the SBA guaranteed $108,800.
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 4 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
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.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.
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