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November 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Happy State Bank Amarillo Business Loans > Home Health Care Services Loan | ||||
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How to Get SBA Loans in Amarillo, Texas
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Borrowing Money for Home Health Care ServicesLooking for bank loans for home health care services? The SBA may be the answer. This $101,000 home health care services loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amarillo, Texas was able to borrow $101,000 from Happy State Bank. The SBA made the loan possible by guaranteeing $85,850 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HOME HEALTH CARE SERVICES SBA Loan Lender HAPPY STATE BANK 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 621610 - Home Health Care Services Loan Approval Date 6/26/2001 Loan Approval Gross Amount $101,000 Loan Approval from the SBA Of the total $101,000 loan amount, the SBA guaranteed $85,850. 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 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Happy State Bank 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. Related Links: Obtaining Funding - How to Borrow Money Who Lends Money to Small Businesses in Amarillo, Texas
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