Abilene, Texas Lender Lends Money to Automotive Services Company

Get to know Abilene, Texas banks that specialize in business loans and know how to work with entrepreneurs. State National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Abilene, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from State National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
ABILENE, TX 79605

SBA Loan Lender

STATE NATIONAL BANK
1049 N 3RD
ABILENE, TX 79604

This commercial loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

7/19/2001

Loan Approval Gross Amount

$129,040

Loan Approval from the SBA

Of the total $129,040 loan amount, the SBA guaranteed $109,684.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Abilene TX, you ought to talk with a local Abilene SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Abilene businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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