SBA Loan from Herring Bank Helps Convenience Stores Company

An SBA loan from Herring Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Amarillo, Texas business owner got a $48,000 loan.

Getting a small business loan in Amarillo, Texas was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Herring Bank, operating out of Amarillo, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
AMARILLO, TX 79119

SBA Loan Lender

HERRING BANK
2201 CIVIC CIR
AMARILLO, TX 79101

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

8/18/2003

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours 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.

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