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May 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Idalou, Business Loans > Security Bank Idalou Business Loans > Farm Machinery And Equipment Loan | ||||
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Who Lends Money to Idalou Small Business Owners
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Firm Gets a Texas Bank LoanSmall business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA. By giving the right information to Security Bank, this Idalou, Texas business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FARM MACHINERY AND EQUIPMENT SBA Loan Lender SECURITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3523 - Farm Machinery and Equipment NAICS Code 333111 - Farm Machinery and Equipment Manufacturing Loan Approval Date 3/7/2000 Loan Approval Gross Amount $16,471 Loan Approval from the SBA Of the total $16,471 loan amount, the SBA guaranteed $12,353. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees 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. 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: Borrowing Money from Friends and Family Best Banks for Small Business in Idalou, Texas
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