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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Sherman, Business Loans > American Bank Of Texas Sherman Business Loans > Specialty Trade Contractors Loan | ||||
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Banks for Crossroads, Texas Businesses
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Borrowing Money for Specialty Trade ContractorsLooking for loans for specialty trade contractors? Try the SBA. This $100,000 specialty trade contractors loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Crossroads, Texas was able to borrow $100,000 from American Bank Of Texas. The SBA made the loan possible by guaranteeing $85,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender AMERICAN BANK OF TEXAS This lender issued this particular SBA loan 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. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 10/6/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Crossroads or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Role of Business Plan When Raising Money
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