Small Business Loans for Automotive Body, Paint, and Interior Repair and Maintenance

Looking for small business loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $144,500 automotive body, paint, and interior repair and maintenance loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with The Frost National Bank, out of Arlington, Texas. The loan was granted and they received $144,500 to help grow their Fort Worth, Texas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
FORT WORTH, TX 76112

SBA Loan Lender

THE FROST NATIONAL BANK
5901 S COOPER ST
ARLINGTON, TX 76017

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.

NAICS Code

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

Loan Approval Date

5/17/2001

Loan Approval Gross Amount

$144,500

Loan Approval from the SBA

Of the total $144,500 loan amount, the SBA guaranteed $122,825.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Angel Investors

SBA Participating Banks in Arlington, Texas

Getting an SBA Loan in Texas