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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Weslaco, Business Loans > Texas State Bank Weslaco Business Loans > Eating Places Loan | ||||
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Texas SBA 7A Lenders
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Weslaco, Texas Bank Lends Money to Eating Places Company in Weslaco, TexasThinking about meeting with a Weslaco, Texas bank about a small business loan? Here's one Texas business loan, issued by a Weslaco bank, that was approved by the SBA. Applying for an SBA loan with Texas State Bank worked out well for our friends at one local business in Weslaco, Texas. They got an SBA loan for $55,000. Great job! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TEXAS STATE BANK This lender issued this particular loan 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. SIC Code 5812 - Eating Places Loan Approval Date 4/17/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $44,000. 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 30 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Texas State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Texas State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Business Banks in Weslaco, Texas
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