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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > American State Bank Lubbock Business Loans > Farm And Garden Machinery And Equipment Merchant Wholesalers Loan | ||||
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Banks in Lubbock, Texas That Make SBA Loans
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Lubbock, Texas Bank Lends Money to Farm And Garden Machinery And Equipment Merchant Wholesalers Company in Littlefield, TexasA Lubbock, Texas small business loan can be yours. Learn how a business got a $43,000 business loan from this Texas bank. This loan to an entrepreneur is a good example of an SBA loan. American State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender AMERICAN STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423820 - Farm and Garden Machinery and Equipment Merchant Wholesalers Loan Approval Date 1/15/2004 Loan Approval Gross Amount $43,000 Loan Approval from the SBA Of the total $43,000 loan amount, the SBA guaranteed $36,550. 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 6 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American State 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Lubbock, Texas
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