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December 22, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Herring Bank Amarillo Business Loans > Limited-Service Restaurants Loan | ||||
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Amarillo, Texas Bank for SBA Loans
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Amarillo, Texas Entrepreneur Gets an SBA LoanWould a Texas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs. Getting a small business loan in Amarillo, Texas was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Herring Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender HERRING BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/17/2003 Loan Approval Gross Amount $59,400 Loan Approval from the SBA Of the total $59,400 loan amount, the SBA guaranteed $50,490. More Information on This SBA Loan The borrower borrowed this money for an existing 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 30 employees. The loan application did not indicate that the business promised to use the funding to add employees 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $59,400 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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