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February 1, 2023  
 
 
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We Needed an SBA Loan in Clyde, Texas and We Got One!

 

 
Loan Census SBA Loan Info

SBA Loans for Consumer Electronics Repair and Maintenance

Looking for SBA loans for consumer electronics repair and maintenance? An SBA loan may be just what you've been looking for. This $42,500 consumer electronics repair and maintenance loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clyde, Texas was able to borrow $42,500 from American State Bank. The SBA made the loan possible by guaranteeing $36,125 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE
CLYDE, TX 79510

SBA Loan Lender

AMERICAN STATE BANK
815 N JUDGE ELY BLVD
ABILENE, TX 79601

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811211 - Consumer Electronics Repair and Maintenance

Loan Approval Date

11/20/2001

Loan Approval Gross Amount

$42,500

Loan Approval from the SBA

Of the total $42,500 loan amount, the SBA guaranteed $36,125.

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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American 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:

Direct Public Offerings

Where to Get an SBA Loan in Abilene, Texas

Texas SBA 7A Banks