Abilene, Texas Business Gets SBA-Guaranteed Funding from Citibank

An SBA loan from Citibank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Abilene, Texas business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Citibank, out of Abilene, Texas. The loan was granted and they received $150,000 to help grow their Abilene, Texas business.

SBA Loan Borrower

COMPANY TYPE: USED HOUSEHOLD AND OFFICE GOODS MOVING
ABILENE, TX 79604

SBA Loan Lender

CITIBANK
3409 S 14TH ST
ABILENE, TX 79605

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484210 - Used Household and Office Goods Moving

Loan Approval Date

11/19/2002

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Line of Credit

Small Bank Loans in Abilene, Texas

SBA Lenders in Texas