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May 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Midland, Business Loans > West Texas National Bank Midland Business Loans > Limited-Service Restaurants Loan | ||||
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SBA Lenders in Terlingua
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West Texas National Bank SBA Loan to Limited-Service Restaurants CompanyWest Texas National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Terlingua, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was West Texas National Bank, based in Midland, Texas. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender WEST TEXAS NATIONAL BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/25/2002 Loan Approval Gross Amount $22,600 Loan Approval from the SBA Of the total $22,600 loan amount, the SBA guaranteed $19,210. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source This SBA loan was for $22,600. How would you spend $22,600 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: Realistic Debt Financing Options SBA 7A Banks in Midland, Texas
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