Lone Star Bank SBA Loan to No Industry Type Specified Company

Looking to get a Texas business loan? Here's one Texas business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Lone Star Bank, out of Houston, Texas. The loan was granted and they received $500,000 to help grow their Spring, Texas business.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SPRING, TX 77388

SBA Loan Lender

LONE STAR BANK
952 ECHO LANE, STE 100
HOUSTON, TX 77024

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

518111 -

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lone Star Bank 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:

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Small Bank Loans in Houston, Texas

Getting an SBA Loan in Texas