Business Loans for Textile Product Mills

With these business loans for textile product mills, the SBA guarantees the lender that the loan will be repaid. This textile product mills loan for $34,400 was given to a Texas entrepreneur in 2003.

Getting a small business loan in Lubbock, Texas was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from City Bank, operating out of Morton, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE PRODUCT MILLS
LUBBOCK, TX 79413

SBA Loan Lender

CITY BANK
107 W TAYLOR
MORTON, TX 79346

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

314999 - Textile Product Mills

Loan Approval Date

6/3/2003

Loan Approval Gross Amount

$34,400

Loan Approval from the SBA

Of the total $34,400 loan amount, the SBA guaranteed $29,240.

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 2 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Morton, Texas

Texas SBA 7A Lenders