Loan Census Banking News and Information
February 3, 2023  
 
 
  Business Loan Information  
 

First Finan Bank Small Business Tuscola, Texas

 

 
Loan Census SBA Loan Info

Business Loan from First Finan Bank Given to Gift, Novelty, And Souvenir Stores Company

First Finan Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Tuscola, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Finan Bank, based in Abilene, Texas.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
TUSCOLA, TX 79562

SBA Loan Lender

FIRST FINAN BANK
400 PINE ST
ABILENE, TX 79601

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

3/3/2004

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $20,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you 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.

This SBA loan was for $24,000. How would you spend $24,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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