Entrepreneur Works With Abilene, Texas Bank to Get an SBA Loan
Find Abilene, Texas banks that specialize in SBA loans and know how to work with entrepreneurs. Citibank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Mineral Wells, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Citibank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: OPERATORS OF APARTMENT BUILDINGS
MINERAL WELLS, TX 76067
SBA Loan Lender
3409 S 14TH ST
ABILENE, TX 79605
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
6513 - Operators of Apartment Buildings
531110 - Lessors of Residential Buildingsv and Dwellings
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $910,000 loan amount, the SBA guaranteed $682,500.
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 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
Where to Get an SBA Loan in Abilene, Texas
SBA Participating Banks in Texas