Texas Business Loan Issued to Record And Prerecorded Tape Stores Company

Would a Texas business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

This business, based in Lubbock, 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 First Bank & Trust Company. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: RECORD AND PRERECORDED TAPE STORES
LUBBOCK, TX 79423

SBA Loan Lender

FIRST BANK & TRUST COMPANY
7806 INDIANA AVE
LUBBOCK, TX 79423

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.

SIC Code

5735 - Record and Prerecorded Tape Stores

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $45,600.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours 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.

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