Abilene, Texas Business Gets SBA-Guaranteed Funding from 1st National Bank - Baird

1st National Bank - Baird has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Abilene, Texas was able to borrow $2,000,000 from 1st National Bank - Baird. The SBA made the loan possible by guaranteeing $1,500,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW HOUSING OPERATIVE BUILDERS
ABILENE, TX 79605

SBA Loan Lender

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

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236117 - New Housing Operative Builders

Loan Approval Date

2/7/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Baird and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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