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April 26, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Grand Prairie, Business Loans > Grand Bank Of Texas Grand Prairie Business Loans > City View Automotive LLC Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Fort Worth, TX Entrepreneur Gets SBA Loan to Buy Lee Myles Automotive Transmissions FranchiseBorrowing money to purchase a Lee Myles Automotive Transmissions franchise? Grand Bank Of Texas has a history of making these loans and they are guaranteed by the SBA. Lee Myles Automotive Transmissions franchise loans are available to Fort Worth, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Grand Bank Of Texas, based in Grand Prairie, Texas, issued an SBA franchise loan for a Lee Myles Automotive Transmissions franchise in 2003. We've got all the details on this Texas small business loan. SBA Loan Borrower CITY VIEW AUTOMOTIVE LLC SBA Loan Lender GRAND BANK OF TEXAS Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 6/20/2003 Loan Approval Gross Amount $891,300 Loan Approval from the SBA Of the total $891,300 loan amount, the SBA guaranteed $668,475. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Grand Bank Of Texas that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Lee Myles Transmissions and Autocare SBA Approved Banks in Grand Prairie, Texas Browse All Business Loan Sources for Texas
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