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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Plano, Business Loans > First International Bank Plano Business Loans > Plastics, Foil, And Coated Paper Bag Manufacturing Loan | ||||
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Getting a Business Loan in Athens, Texas
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Local Business Gets a Texas Business LoanTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. This business, based in Athens, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First International Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS, FOIL, AND COATED PAPER BAG MANUFACTURING SBA Loan Lender FIRST INTERNATIONAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322223 - Plastics, Foil, and Coated Paper Bag Manufacturing Loan Approval Date 11/10/2004 Loan Approval Gross Amount $435,000 Loan Approval from the SBA Of the total $435,000 loan amount, the SBA guaranteed $326,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First International Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Borrow Money SBA 7A Lenders in Plano, Texas Browse All Business Loan Sources for Texas
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