American State Bank Gives Business Loan to Fabricated Structural Metal Company

SBA loans in Texas are hard to find these days. We take a look at one Texas SBA loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Abilene, Texas was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from American State Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL
ABILENE, TX 79602

SBA Loan Lender

AMERICAN STATE BANK
402 CYPRESS ST
ABILENE, TX 79601

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3441 - Fabricated Structural Metal

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$77,008

Loan Approval from the SBA

Of the total $77,008 loan amount, the SBA guaranteed $61,606.

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 8 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $77,008. How would you spend $77,008 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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