Commercial and Industrial Machinery and Equipment Rental and Leasing Business Loans
With these business loans for commercial and industrial machinery and equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This commercial and industrial machinery and equipment rental and leasing loan for $50,000 was given to a Texas entrepreneur in 2005.
Getting a small business loan in San Juan, Texas was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Frost National Bank, operating out of Alamo, Texas. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
SAN JUAN, TX 78589
SBA Loan Lender
THE FROST NATIONAL BANK
809 MAIN ST
ALAMO, TX 78516
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing
Loan Approval Date
6/9/2005
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.
Related Links:
The Friends and Family Network
Good Banks for Small Business in Alamo, Texas
SBA Texas Banks