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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Amer Business Lending Inc. Dallas Business Loans > Automotive Services Loan | ||||
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Texas Bank SBA Loans
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Amer Business Lending Inc. SBA Loan to Automotive Services CompanyLooking to get a Texas small business loan? Here's one Texas business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arlington, Texas was able to borrow $876,000 from Amer Business Lending Inc.. The SBA made the loan possible by guaranteeing $657,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender AMER BUSINESS LENDING INC. This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services Loan Approval Date 1/11/2000 Loan Approval Gross Amount $876,000 Loan Approval from the SBA Of the total $876,000 loan amount, the SBA guaranteed $657,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! 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. 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: Small Business Banks in Dallas, Texas
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