State National Bank SBA Loan to Lumber And Other Building Materials Dealer Company

Searching for a Texas SBA loan? Here's one Texas business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Abilene, Texas, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was State National Bank, based in Abilene, Texas.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
ABILENE, TX 79605

SBA Loan Lender

STATE NATIONAL BANK
1049 N 3RD
ABILENE, TX 79604

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

Loan Approval Date

10/12/2000

Loan Approval Gross Amount

$773,000

Loan Approval from the SBA

Of the total $773,000 loan amount, the SBA guaranteed $579,750.

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 21 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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.

Related Links:

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Texas SBA 7A Lenders