Texas Bank Loan Issued to Motor Vehicle Dealers Company

SBA loans in Texas are are few and far betweeen these days. We take a look at one Texas SBA loan, provided by a Texas bank, that was approved by the SBA.

You can learn something about getting a small business loan in Humble, Texas by studying this loan to a local business, made back in 2005. Banks like Woodforest National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
HUMBLE, TX 77339

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

6/17/2005

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

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 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

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

If you are raising money in Humble TX, you ought to talk with a local Humble SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Humble businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Woodforest National Bank and they will explain how you can get an SBA loan for your company.

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:

A Company That Helps Entrepreneurs

SBA 7A Banks in Houston, Texas

Where to Get an SBA Loan Texas