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May 7, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Paso, Business Loans > Bank Of The West El Paso Business Loans > Retail Bakeries Loan | ||||
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Texas SBA Loans from Bank Of The West
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SBA Loan from Bank Of The West Helps Retail Bakeries CompanyBank Of The West and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $150,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender BANK OF THE WEST This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 5/13/2003 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 27 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 22 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny. 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 El Paso, Texas
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