Abilene, Texas Bank Gives SBA Loan to Motor Vehicle Towing Company

Thinking about meeting with an Abilene, Texas bank about a business loan? Here's one Texas business loan, issued by an Abilene bank, that was approved by the SBA.

Applying for an SBA loan with State National Bank worked out well for our friends at one local firm in Abliene, Texas. They received an SBA loan for $26,500. Nice!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
ABLIENE, TX 79601

SBA Loan Lender

STATE NATIONAL BANK
1049 N 3RD
ABILENE, TX 79604

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

6/13/2001

Loan Approval Gross Amount

$26,500

Loan Approval from the SBA

Of the total $26,500 loan amount, the SBA guaranteed $22,525.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like State National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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