Entrepreneur Works With Lubbock, Texas Bank to Get an SBA Loan
A Lubbock, Texas small business loan can be yours. Learn how one firm got a $455,000 business loan from this Texas bank.
This loan to an entrepreneur is a good example of an SBA loan. American State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS MERCHANT WHOLESALERS
LUBBOCK, TX 79404
SBA Loan Lender
AMERICAN STATE BANK
1401 AVE 'Q'
LUBBOCK, TX 79401
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
424720 - Petroleum and Petroleum Products Merchant Wholesalers
Loan Approval Date
11/1/2004
Loan Approval Gross Amount
$455,000
Loan Approval from the SBA
Of the total $455,000 loan amount, the SBA guaranteed $341,250.
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 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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.
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