Loan Census Banking News and Information
February 1, 2023  
 
 
  Business Loan Information  
 

Abilene, Texas Bank Loan

 

 
Loan Census SBA Loan Info

Texas SBA Loan Issued to Cut Stone And Stone Products Company

TexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan.

This company, based in Abilene, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCTS
ABILENE, TX 79602

SBA Loan Lender

CITIZENS BANK
4201 S TREADAWAY BLVD
ABILENE, TX 79602

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3281 - Cut Stone and Stone Products

NAICS Code

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

5/11/2006

Loan Approval Gross Amount

$1,027,780

Loan Approval from the SBA

Of the total $1,027,780 loan amount, the SBA guaranteed $770,835.

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 37 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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

Business Line of Credit

SBA 7A Banks for Abilene, Texas Loans

SBA Lenders in Texas