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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 > Jewelry Stores Loan | ||||
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Raising Money in Laredo, Texas With SBA Loans
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The Laredo National Bank Gives Small Business Loan to Jewelry Stores CompanyLooking to get a Texas small business loan? This Texas entrepreneur got a small business loan, provided by a Texas bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Laredo, Texas by studying this loan to a local company, made back in 2001. Banks like The Laredo National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES SBA Loan Lender THE LAREDO NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448310 - Jewelry Stores Loan Approval Date 9/12/2001 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $39,100. 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Laredo, Texas
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