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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Arlington, Business Loans > Southwest Securities, Fsb Arlington Business Loans > Power, Distribution, And Specialty Transformer Manufacturing Loan | ||||
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Arlington Bank Loan
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Entrepreneur Works With Arlington, Texas Bank to Get an SBA LoanAn Arlington, Texas SBA loan can be yours. Learn how a company got a $715,000 business loan from this Texas bank. This loan to an entrepreneur is a good example of an SBA loan. Southwest Securities, Fsb 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: POWER, DISTRIBUTION, AND SPECIALTY TRANSFORMER MANUFACTURING SBA Loan Lender SOUTHWEST SECURITIES, FSB This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 335311 - Power, Distribution, and Specialty Transformer Manufacturing Loan Approval Date 10/4/2007 Loan Approval Gross Amount $715,000 Loan Approval from the SBA Of the total $715,000 loan amount, the SBA guaranteed $536,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 43 employees. The SBA loan documents indicated that the loan would help retain 43 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southwest Securities, Fsb 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: Good Banks for Small Business in Arlington, Texas
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