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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Odessa, Business Loans > Southwest Bank Odessa Business Loans > Furniture Loan | ||||
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Texas SBA Lenders
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Odessa, Texas Bank Lends Money to Furniture Company in Odessa, TexasWant to talk with an Odessa, Texas bank about an SBA loan? Here's one Texas business loan, issued by an Odessa bank, that was approved by the SBA. Applying for an SBA loan with Southwest Bank worked out well for our friends at one local company in Odessa, Texas. They received an SBA loan for $355,000. Way to go! SBA Loan Borrower COMPANY TYPE: FURNITURE SBA Loan Lender SOUTHWEST BANK This lender issued this small business loan under the SBA 7A lending 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. SIC Code 5021 - Furniture Loan Approval Date 2/23/2000 Loan Approval Gross Amount $355,000 Loan Approval from the SBA Of the total $355,000 loan amount, the SBA guaranteed $266,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower 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? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $355,000. How would you spend $355,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Lenders in Odessa, Texas
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