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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Omnibank, National Association Houston Business Loans > Pumps And Pumping Equipment Loan | ||||
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Houston Bank Loan
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Entrepreneur Works With Houston, Texas Bank to Get an SBA LoanThinking about meeting with a Houston, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Houston bank, that was approved by the SBA. Applying for an SBA loan with Omnibank, National Association worked out well for our friends at one local firm in Houston, Texas. The business was able to get an SBA loan for $535,778. Great job! SBA Loan Borrower COMPANY TYPE: PUMPS AND PUMPING EQUIPMENT SBA Loan Lender OMNIBANK, NATIONAL ASSOCIATION This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3561 - Pumps and Pumping Equipment NAICS Code 221310 - Water Supply and Irrigation Systems Loan Approval Date 9/30/2004 Loan Approval Gross Amount $535,778 Loan Approval from the SBA Of the total $535,778 loan amount, the SBA guaranteed $401,834. 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 7 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Houston, Texas
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