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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Citizens National Bank Henderson Business Loans > Transportation Services Loan | ||||
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How to Get a Business Loan in Karnack, Texas
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Texas Bank Loan Issued to Transportation Services CompanyTexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan. This small business, based in Karnack, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens National Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION SERVICES SBA Loan Lender CITIZENS NATIONAL BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4789 - Transportation Services NAICS Code 488210 - Support Activities for Rail Transportation Loan Approval Date 2/28/2005 Loan Approval Gross Amount $365,000 Loan Approval from the SBA Of the total $365,000 loan amount, the SBA guaranteed $273,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 32 employees. The loan application did not indicate that the small business planned 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? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Henderson, Texas
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