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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mcallen, Business Loans > Texas State Bank Mcallen Business Loans > Support Activities For Oil And Gas Operations Loan | ||||
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Texas SBA Banks
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Entrepreneur Works With Mcallen, Texas Bank to Get an SBA LoanA Mcallen, Texas small business loan can be yours. Learn how a company got a $50,000 business loan from this Texas bank. This loan to a local firm is a good example of an SBA loan. Texas 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: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS SBA Loan Lender TEXAS 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 213112 - Support Activities for Oil and Gas Operations Loan Approval Date 5/3/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Texas State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Texas 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: SBA Participating Banks in Mcallen, Texas Browse All Business Loan Sources for Texas
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