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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 > Rubber And Plastics Hoses And Belting Manufacturing Loan | ||||
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Banks in Lubbock, Texas That Make SBA Loans
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Lubbock, Texas Bank Lends Money to Rubber And Plastics Hoses And Belting Manufacturing Company in Lubbock, TexasThinking about meeting with a Lubbock, Texas bank about a small 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 American State Bank worked out well for our friends at one local company in Lubbock, Texas. They got an SBA loan for $65,000. Nice! SBA Loan Borrower COMPANY TYPE: RUBBER AND PLASTICS HOSES AND BELTING MANUFACTURING SBA Loan Lender AMERICAN STATE 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 326220 - Rubber and Plastics Hoses and Belting Manufacturing Loan Approval Date 5/25/2004 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. 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 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Who Lends Money to Small Businesses in Lubbock, Texas
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