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March 28, 2024  
 
 
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Texas Bank SBA Loans

 

 
Loan Census SBA Loan Info

Amer National Bank - Texas SBA Loan to No Industry Type Specified Company

Searching for a Texas SBA loan? Here's one Texas business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Heath, Texas, they applied for and were given an SBA-guaranteed loan in 2002. The lending bank was Amer National Bank - Texas, based in Terrell, Texas.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
HEATH, TX 75032

SBA Loan Lender

AMER NATIONAL BANK - TEXAS
102 W MOORE
TERRELL, TX 75160

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561310 -

Loan Approval Date

2/13/2002

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 a new 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 23 employees. This SBA loan request did not indicate that the business planned 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 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Amer National Bank - Texas and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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