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May 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mesquite, Business Loans > Colonial Bank Mesquite Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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Colonial Bank
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Balch Springs, Texas Business Gets SBA-Guaranteed Funding from Colonial BankColonial Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Balch Springs, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Colonial Bank, based in Mesquite, Texas. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender COLONIAL BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine Loan Approval Date 1/5/2000 Loan Approval Gross Amount $91,300 Loan Approval from the SBA Of the total $91,300 loan amount, the SBA guaranteed $73,040. 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. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Colonial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Colonial Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Decide How Much to Raise Find an SBA Lender in Mesquite, Texas SBA Participating Banks in Texas
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