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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Fine Arts Schools Loan | ||||
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El Paso, Texas Bank for SBA Loans
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Growing Company Gets a Texas SBA LoanLooking to get a Texas bank loan? This Texas entrepreneur got a bank loan, provided by a Florida bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in El Paso, Texas by studying this loan to a local company, made back in 2006. Banks like Business Loan Center, LLC may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender BUSINESS LOAN CENTER, LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611610 - Fine Arts Schools Loan Approval Date 9/7/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. 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: Role of Business Plan When Raising Money SBA 7A Banks for Panama City Beach, Florida Loans
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