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May 7, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Woodforest National Bank Houston Business Loans > Machine Shops Loan | ||||
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How to Get SBA Loans in Burleson, Texas
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Get an SBA Loan for Machine ShopsLooking for loans for machine shops? An SBA loan may be just what you've been looking for. This $290,000 machine shops loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burleson, Texas was able to borrow $290,000 from Woodforest National Bank. The SBA made the loan possible by guaranteeing $217,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender WOODFOREST NATIONAL BANK 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 332710 - Machine Shops Loan Approval Date 11/16/2006 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. 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 30 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 30 existing jobs. 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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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