Meridian, Texas Lender Lends Money to Soil Preparation Services Company

Find Meridian, Texas banks that specialize in small business loans and know how to work with entrepreneurs. First Commun Bank Cent. Texas Na is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hico, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First Commun Bank Cent. Texas Na. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION SERVICES
HICO, TX 76457

SBA Loan Lender

FIRST COMMUN BANK CENT. TEXAS NA
201 W MORGAN
MERIDIAN, TX 76665

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0711 - Soil Preparation Services

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

1/31/2000

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $111,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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