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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Laredo, Business Loans > The Laredo National Bank Laredo Business Loans > Coin-Operated Amusement Devices Loan | ||||
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SBA 7A Banks for Small Business Owners in Texas
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Laredo, Texas Entrepreneur Gets a Business LoanSmall business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA. This small business, based in Laredo, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Laredo National Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES SBA Loan Lender THE LAREDO NATIONAL BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7993 - Coin-Operated Amusement Devices NAICS Code 713120 - Amusement Arcades Loan Approval Date 10/27/2000 Loan Approval Gross Amount $48,450 Loan Approval from the SBA Of the total $48,450 loan amount, the SBA guaranteed $38,760. 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 loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA 7A Lenders in Laredo, Texas
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