Growing Company Gets a Texas Small Business Loan

Bank loans in Texas are tough to come by these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Amarillo, Texas was a top priority for this loan applicant back in 2007 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: NONDURABLE GOODS MERCHANT WHOLESALERS
AMARILLO, TX 79109

SBA Loan Lender

HERRING BANK
2201 CIVIC CIR
AMARILLO, TX 79101

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

7/27/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 8 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Herring Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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 - Getting Venture Capital

Small Business Banks in Amarillo, Texas

Getting an SBA Loan in Texas