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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Andrews, Business Loans > Commercial State Bank Andrews Business Loans > Eating Places Loan | ||||
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Texas Bank SBA Loans
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Commercial State Bank SBA Loan to Eating Places CompanyLooking to get a Texas business loan? Here's one Texas business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odessa, Texas was able to borrow $85,000 from Commercial State Bank. The SBA made the loan possible by guaranteeing $68,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender COMMERCIAL STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 8/3/2000 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $68,000. 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 11 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: A Company That Helps Entrepreneurs SBA Approved Banks in Andrews, Texas
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