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May 9, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Clute, Business Loans > First State Bank Clute Business Loans > Surgical And Medical Instrument Manufacturing Loan | ||||
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Clute Lenders
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Clute, Texas Lender Lends Money to Surgical And Medical Instrument Manufacturing CompanyThinking about meeting with a Clute, Texas bank about a business loan? Here's one Texas business loan, issued by a Clute bank, that was approved by the SBA. Applying for an SBA loan with First State Bank worked out well for our friends at one local business in Brazoria, Texas. They received an SBA loan for $125,000. Nice! SBA Loan Borrower COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING SBA Loan Lender FIRST STATE BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339112 - Surgical and Medical Instrument Manufacturing Loan Approval Date 1/9/2001 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 17 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, anyone can do it... so why not you? 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: The Friends and Family Network SBA Participating Banks in Clute, Texas
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