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May 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Hereford, Business Loans > Hereford State Bank Hereford Business Loans > Beauty Salons Loan | ||||
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Getting an SBA Loan in Hereford, Texas
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Texas Small Business Loan Issued to Beauty Salons CompanyTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. Getting a small business loan in Hereford, Texas was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Hereford State Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender HEREFORD STATE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a 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 812112 - Beauty Salons Loan Approval Date 4/20/2004 Loan Approval Gross Amount $57,600 Loan Approval from the SBA Of the total $57,600 loan amount, the SBA guaranteed $48,960. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks in Hereford, Texas
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