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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 > Industrial Supplies Loan | ||||
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Texas Bank SBA Loans
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Entrepreneur Works With Odessa, Texas Bank to Get an SBA LoanFind Odessa, Texas banks that specialize in business loans and know how to work with entrepreneurs. Southwest Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Odessa, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Southwest Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES SBA Loan Lender SOUTHWEST BANK This loan for a small business was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5085 - Industrial Supplies NAICS Code 421840 - Industrial Supplies Wholesalers Loan Approval Date 3/6/2001 Loan Approval Gross Amount $320,000 Loan Approval from the SBA Of the total $320,000 loan amount, the SBA guaranteed $240,000. 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 21 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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