Getting an SBA Loan for Shellfish Fishing

With these commercial loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $10,000 was given to a Texas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Isabel, Texas was able to borrow $10,000 from Texas State Bank. The SBA made the loan possible by guaranteeing $8,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH FISHING
PORT ISABEL, TX 78578

SBA Loan Lender

TEXAS STATE BANK
3900 N 10TH ST
MCALLEN, TX 78501

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Texas State Bank and they will explain how you can get an SBA loan for your company.

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:

How to Raise Money

Find an SBA Lender in Mcallen, Texas

Texas SBA Banks