Entrepreneur Works With Abilene, Texas Bank to Get an SBA Loan
Want to talk with an Abilene, Texas bank about a business loan? Here's one Texas business loan, issued by an Abilene bank, that was approved by the SBA.
Applying for an SBA loan with Citibank worked out well for our friends at one local firm in Merkel, Texas. The business was able to get an SBA loan for $60,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
MERKEL, TX 79536
SBA Loan Lender
3409 S 14TH ST
ABILENE, TX 79605
This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
624410 - Child Day Care Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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 3 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citibank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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