SBA Loan from First Financial Bank Helps Broilers And Meat Type Company

First Financial Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Financial Bank, out of Nacogdoches, Texas. The loan was granted and they received $410,000 to help grow their Center, Texas business.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
CENTER, TX 75935

SBA Loan Lender

FIRST FINANCIAL BANK
1602 E STARR, STE 104
NACOGDOCHES, TX 75961

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

7/27/2006

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Center TX, you ought to talk with a local Center SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Center businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Financial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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