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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Sherman, Business Loans > American Bank Of Texas Sherman Business Loans > Electrical Work Loan | ||||
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We Needed an SBA Loan in Sherman, Texas and We Got One!
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Where to Get Capital for Electrical ContractorsLooking for small business loans for electrical contractors? The SBA may be the answer. This $100,000 electrical contractors loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sherman, Texas was able to borrow $100,000 from American Bank Of Texas. The SBA made the loan possible by guaranteeing $80,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender AMERICAN BANK OF TEXAS This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1731 - Electrical Work NAICS Code 235310 - Electrical Contractors Loan Approval Date 9/25/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Sherman or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Where to Get an SBA Loan in Sherman, Texas
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