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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Trustmark National Bank Houston Business Loans > Building Cleaning And Maintenance Services, N.E.C Loan | ||||
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Small Business Banks for Houston, Texas Business Owners
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Houston, Texas Entrepreneur Gets a Bank LoanTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. You can learn something about getting a small business loan in Houston, Texas by studying this loan to a local business, made back in 2000. Banks like Trustmark National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: BUILDING CLEANING AND MAINTENANCE SERVICES, N.E.C SBA Loan Lender TRUSTMARK NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . 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. SIC Code 7349 - Building Cleaning and Maintenance Services, N.E.C Loan Approval Date 5/22/2000 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $56,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Borrowing Money from Friends and Family Find an SBA Lender in Houston, Texas
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