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May 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Hardware Stores Loan | ||||
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Sterling Bank
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SBA Loan from Sterling Bank Helps Hardware Stores CompanyAn SBA loan from Sterling Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Katy, Texas business owner got a $150,000 loan. This business knew how to go about getting a business bank loan. Based in Katy, Texas, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Sterling Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender STERLING BANK 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. NAICS Code 444130 - Hardware Stores Loan Approval Date 2/26/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you have been wondering how do i get money to start a business in Katy TX, you ought to talk with a local Katy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Katy businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sterling Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sterling Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Houston, Texas
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