Amarillo, Texas Business Gets SBA-Guaranteed Funding from First Bank & Trust Company

First Bank & Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

This business knew how to go about getting a business bank loan. Based in Amarillo, Texas, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was First Bank & Trust Company, based in Lubbock, Texas.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK
AMARILLO, TX 79110

SBA Loan Lender

FIRST BANK & TRUST COMPANY
7806 INDIANA AVE
LUBBOCK, TX 79423

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1761 - Roofing, Siding, and Sheet Metal Work

NAICS Code

238160 - Roofing Contractors

Loan Approval Date

3/8/2006

Loan Approval Gross Amount

$245,310

Loan Approval from the SBA

Of the total $245,310 loan amount, the SBA guaranteed $183,983.

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 18 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Credit Cards

Small Bank Loans in Lubbock, Texas

SBA Texas Banks