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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Nacogdoches, Business Loans > First Financial Bank Nacogdoches Business Loans > Broiler, Fryer, And Roaster Chickens Loan | ||||
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First Financial Bank
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Marion, Texas Business Gets SBA-Guaranteed Funding from First Financial BankFirst Financial Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Marion, Texas was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Financial Bank, operating out of Nacogdoches, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS SBA Loan Lender FIRST FINANCIAL BANK This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0251 - Broiler, Fryer, and Roaster Chickens NAICS Code 112320 - Broilers and Meat Type Loan Approval Date 9/19/2002 Loan Approval Gross Amount $660,000 Loan Approval from the SBA Of the total $660,000 loan amount, the SBA guaranteed $495,000. 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Financial 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: Best Banks for Small Business in Nacogdoches, Texas
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