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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > First United Bank Lubbock Business Loans > General Merchandise Stores Loan | ||||
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Banks in Lubbock, Texas That Make SBA Loans
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Lubbock, Texas Bank Gives SBA Loan to General Merchandise Stores CompanyThinking about meeting with a Lubbock, Texas bank about a business loan? Here's one Texas business loan, issued by a Lubbock bank, that was approved by the SBA. Applying for an SBA loan with First United Bank worked out well for our friends at one local company in Lubbock, Texas. They received an SBA loan for $144,000. Nice! SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender FIRST UNITED BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 452990 - General Merchandise Stores Loan Approval Date 6/2/2003 Loan Approval Gross Amount $144,000 Loan Approval from the SBA Of the total $144,000 loan amount, the SBA guaranteed $122,400. 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 5 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Lubbock or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Accountant's Role in Securing Financing
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