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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Denton, Business Loans > Northstar Bank Of Texas Denton Business Loans > Millwork Loan | ||||
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SBA Lenders Texas
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Denton, Texas Bank Lends Money to Millwork Company in Lewisville, TexasWant to talk with a Denton, Texas bank about a business loan? Here's one Texas business loan, issued by a Denton bank, that was approved by the SBA. Applying for an SBA loan with Northstar Bank Of Texas worked out well for our friends at one local firm in Lewisville, Texas. They got an SBA loan for $150,000. Nice! SBA Loan Borrower COMPANY TYPE: MILLWORK SBA Loan Lender NORTHSTAR BANK OF TEXAS This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 321918 - Millwork Loan Approval Date 11/12/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Borrow Money Small Business Banks in Denton, Texas
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