Iron and Steel Forging Loans

Looking for loans for iron and steel forging? Talk to a banker who works with the SBA. This $150,000 iron and steel forging loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abilene, Texas was able to borrow $150,000 from 1st National Bank - Baird. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL FORGING
ABILENE, TX 79602

SBA Loan Lender

1ST NATIONAL BANK - BAIRD
1849 S FIRST ST
ABILENE, TX 79602

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA 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.

NAICS Code

332111 - Iron and Steel Forging

Loan Approval Date

7/29/2002

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 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. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $150,000. How would you spend $150,000 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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