Waxahachie, Texas Bank Gives SBA Loan to Automotive Body, Paint, And Interior Repair And Maintenance Company

Thinking about meeting with a Waxahachie, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Waxahachie bank, that was approved by the SBA.

Applying for an SBA loan with Citizens National Bank - Texas worked out well for our friends at one local business in Double Oak, Texas. They got an SBA loan for $264,900. Sweet!

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
DOUBLE OAK, TX 75077

SBA Loan Lender

CITIZENS NATIONAL BANK - TEXAS
200 N ELM ST
WAXAHACHIE, TX 75165

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$264,900

Loan Approval from the SBA

Of the total $264,900 loan amount, the SBA guaranteed $132,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the loan would help generate 5 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens National Bank - Texas and they will explain how you can get an SBA loan for your company.

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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