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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Canyon, Business Loans > Happy State Bank Canyon Business Loans > Meineke Discount Muffler Loan | ||||
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How to Get SBA Loans in Amarillo, Texas
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Texas Entrepreneur Secures Financing to Buy Meineke Discount Muffler FranchiseNeed money to purchase a Meineke Discount Muffler franchise? Happy State Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Amarillo, Texas needed money to invest in a Meineke Discount Muffler franchise back in 2000. Happy State Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower MEINEKE DISCOUNT MUFFLER SBA Loan Lender HAPPY STATE BANK 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. SIC Code 7533 - Automotive Exhaust System Repair Shops NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 4/20/2000 Loan Approval Gross Amount $71,300 Loan Approval from the SBA Of the total $71,300 loan amount, the SBA guaranteed $57,040. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Happy State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Canyon, Texas
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