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May 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Baird, Business Loans > 1st National Bank - Baird Baird Business Loans > Farm Machinery And Equipment Manufacturing Loan | ||||
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TX SBA Loans from 1st National Bank - Baird
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SBA Loan from 1st National Bank - Baird Helps Farm Machinery And Equipment Manufacturing CompanyAn SBA loan from 1st National Bank - Baird typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clyde, Texas business owner got a $150,000 loan. This small firm knew how to go about getting a business bank loan. Based in Clyde, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was 1st National Bank - Baird, based in Baird, Texas. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender 1ST NATIONAL BANK - BAIRD This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333111 - Farm Machinery and Equipment Manufacturing Loan Approval Date 12/15/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank - Baird are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Where to Get an SBA Loan in Baird, Texas
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