Mercedes, Texas Bank Lends Money to Glass Products, Made Of Purchased Glass Company in Mercedes, Texas
Thinking about meeting with a Mercedes, Texas bank about a business loan? Here's one Texas business loan, issued by a Mercedes bank, that was approved by the SBA.
Applying for an SBA loan with Texas National Bank worked out well for our friends at one local firm in Mercedes, Texas. They received an SBA loan for $175,000. Nice!
SBA Loan Borrower
COMPANY TYPE: GLASS PRODUCTS, MADE OF PURCHASED GLASS
MERCEDES, TX 78570
SBA Loan Lender
TEXAS NATIONAL BANK
201 S TEXAS AVE
MERCEDES, TX 78570
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3231 - Glass Products, Made of Purchased Glass
NAICS Code
327215 - Glass Product Manufacturing Made of Purchased Glass
Loan Approval Date
1/29/2002
Loan Approval Gross Amount
$175,000
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $131,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are wondering how to raise money for a company in Mercedes TX, you ought to talk with a local Mercedes SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mercedes businesses.
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:
Obtaining Funding From a Venture Capitalist
SBA Participating Banks in Mercedes, Texas
Browse All Business Loan Sources for Texas