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April 30, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Maaco Collision Repair And Aut Loan | ||||
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California Small Business Funding for Franchises
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Comerica Bank Provides SBA Loan to Buy Maaco Auto Painting Center FranchiseBorrowing money to invest in a Maaco Auto Painting Center franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in El Cajon, California needed money to invest in a Maaco Auto Painting Center franchise back in 2005. Comerica Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower MAACO COLLISION REPAIR AND AUT SBA Loan Lender COMERICA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 6/29/2005 Loan Approval Gross Amount $305,200 Loan Approval from the SBA Of the total $305,200 loan amount, the SBA guaranteed $228,900. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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