Southlake, Texas Business Gets SBA-Guaranteed Funding from Citizens National Bank - Texas

An SBA loan from Citizens National Bank - Texas typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Southlake, Texas business owner got a $150,000 loan.

Getting a small business loan in Southlake, Texas was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens National Bank - Texas, operating out of Waxahachie, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO AND TELEVISION BROADCASTING AND WIRELESS COMMUNICATIONS EQUIPMENT
SOUTHLAKE, TX 76092

SBA Loan Lender

CITIZENS NATIONAL BANK - TEXAS
200 N ELM ST
WAXAHACHIE, TX 75165

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334220 - Radio and Television Broadcasting and Wireless Communications Equipment

Loan Approval Date

11/21/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 9 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens National Bank - Texas so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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