Residential Mental Retardation Facilities Small Business Loans

Looking for small business loans for residential mental retardation facilities? Try the SBA. This $450,000 residential mental retardation facilities 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 $450,000 from American State Bank. The SBA made the loan possible by guaranteeing $337,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY HOSPITALS
ABILENE, TX 79601

SBA Loan Lender

AMERICAN STATE BANK
402 CYPRESS ST
ABILENE, TX 79601

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8069 - Specialty Hospitals

NAICS Code

623210 - Residential Mental Retardation Facilities

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $450,000. How would you spend $450,000 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.

Related Links:

Strategic Investors

SBA 7A Banks in Abilene, Texas

Getting an SBA Loan in Texas