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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Idalou, Business Loans > Security Bank Idalou Business Loans > Farm Machinery And Equipment Loan | ||||
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Idalou SBA Lenders
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Idalou, Texas Bank Gives SBA Loan to Farm Machinery And Equipment CompanyThinking about meeting with an Idalou, Texas bank about a small business loan? Here's one Texas business loan, issued by an Idalou bank, that was approved by the SBA. Applying for an SBA loan with Security Bank worked out well for our friends at one local company in Idalou, Texas. They got an SBA loan for $48,270. Sweet! SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT SBA Loan Lender SECURITY BANK This SBA business 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 3523 - Farm Machinery and Equipment NAICS Code 421820 - Farm and Garden Machinery and Equipment Wholesalers Loan Approval Date 4/24/2001 Loan Approval Gross Amount $48,270 Loan Approval from the SBA Of the total $48,270 loan amount, the SBA guaranteed $41,030. 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 17 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Idalou, Texas Banks for Small Business
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