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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Texas Cap. Bank Dallas Business Loans > Construction, Mining, And Forestry Machinery Equipment Rental And Leasing Loan | ||||
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Dallas SBA Loans
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Texas Small Business Loan Issued to Construction, Mining, And Forestry Machinery Equipment Rental And Leasing CompanyTexasSBA loans are available to Texas entrepreneurs through the SBA. In this case, a Texas bank provides the loan. This small business, based in Dallas, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Texas Cap. Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING SBA Loan Lender TEXAS CAP. BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing Loan Approval Date 6/29/2007 Loan Approval Gross Amount $216,000 Loan Approval from the SBA Of the total $216,000 loan amount, the SBA guaranteed $162,000. 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 11 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Dallas, Texas Banks for Small Business Where to Get an SBA Loan Texas
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