First Finan Bank SBA Loan to No Industry Type Specified Company
Looking to get a Texas small business loan? Here's one Texas business loan that was approved by the SBA.
This growing firm needed an SBA business loan in Grapevine, Texas back in 2004 and, after submitting their loan application, they were successful in getting an SBA loan from First Finan Bank, operating out of Southlake, Texas. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
GRAPEVINE, TX 76051
SBA Loan Lender
FIRST FINAN BANK
3205 E HWY 114
SOUTHLAKE, TX 76092
This lender issued this particular commercial 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.
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Finan 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.
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