1st National Bank - Baird SBA Loan to No Industry Type Specified Company

Looking to get a Texas business loan? Here's one Texas business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Clyde, Texas, they applied for and were given an SBA-guaranteed loan in 2003. The lending bank was 1st National Bank - Baird, based in Clyde, Texas.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
CLYDE, TX 79510

SBA Loan Lender

1ST NATIONAL BANK - BAIRD
1-20 & CHERRY LANE
CLYDE, TX 79510

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421390 -

Loan Approval Date

6/25/2003

Loan Approval Gross Amount

$88,700

Loan Approval from the SBA

Of the total $88,700 loan amount, the SBA guaranteed $75,395.

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 9 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank - Baird 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.

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Small Bank Loans in Clyde, Texas

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