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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Granbury, Business Loans > Community Bank Granbury Business Loans > Fabricated Metal Products Loan | ||||
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Kennedale, Texas Bank Loan
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Small Business Loans for Machine ShopsLooking for small business loans for machine shops? Try the SBA. This $950,000 machine shops loan was issued by a Texas bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community Bank, out of Granbury, Texas. The loan was granted and they received $950,000 to help grow their Kennedale, Texas business. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCTS SBA Loan Lender COMMUNITY BANK This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3499 - Fabricated Metal Products NAICS Code 332710 - Machine Shops Loan Approval Date 7/3/2003 Loan Approval Gross Amount $950,000 Loan Approval from the SBA Of the total $950,000 loan amount, the SBA guaranteed $712,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 33 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $950,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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