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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Wells Fargo Bank San Antonio Business Loans > Screw Machine Products Loan | ||||
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Texas Small Business Funding
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Where to Get Capital for Industrial Valve ManufacturingWith these SBA loans for industrial valve manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial valve manufacturing loan for $1,234,900 was given to a Texas entrepreneur in 2002. This business knew how to go about getting a business bank loan. Based in Lockhart, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Wells Fargo Bank, based in San Antonio, Texas. SBA Loan Borrower COMPANY TYPE: SCREW MACHINE PRODUCTS SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3451 - Screw Machine Products NAICS Code 332911 - Industrial Valve Manufacturing Loan Approval Date 2/19/2002 Loan Approval Gross Amount $1,234,900 Loan Approval from the SBA Of the total $1,234,900 loan amount, the SBA guaranteed $926,175. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA 7A Lenders in San Antonio, Texas
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