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April 26, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Roswell, Business Loans > First Fed. A Division - Washin Roswell Business Loans > Car Washes Loan | ||||
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SBA 7A Banks That Lend to Texas Small Business Owners
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El Paso, Texas Entrepreneur Gets an SBA LoanSearching for a Texas bank loan? This Texas entrepreneur got a bank loan, provided by a New Mexico bank that works with the SBA to help small business owners. This company, based in El Paso, 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 First Fed. A Division - Washin. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender FIRST FED. A DIVISION - WASHIN The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 1/16/2003 Loan Approval Gross Amount $346,000 Loan Approval from the SBA Of the total $346,000 loan amount, the SBA guaranteed $259,500. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks in Roswell, New Mexico Getting an SBA Loan in New Mexico
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