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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > First Bank & Trust Company Lubbock Business Loans > Prepackaged Software Loan | ||||
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First Bank & Trust Company Business Loans
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Get an SBA Loan for Software PublishersLooking for bank loans for software publishers? Try the SBA. This $400,000 software publishers loan was issued by a Texas bank. This company knew how to go about getting a business bank loan. Based in Amarillo, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Bank & Trust Company, based in Lubbock, Texas. SBA Loan Borrower COMPANY TYPE: PREPACKAGED SOFTWARE SBA Loan Lender FIRST BANK & TRUST COMPANY This debt financing 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 7372 - Prepackaged Software NAICS Code 511210 - Software Publishers Loan Approval Date 3/8/2006 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 10 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. First Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank & Trust Company 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: Role of Business Plan When Raising Money Best Lubbock, Texas Banks for Small Business Browse All Business Loan Sources for Texas
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