Get an SBA Loan for Special Trade Contractors
With these small business loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $100,000 was given to a Texas entrepreneur in 2003.
This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Riverbend Bank, out of Fort Worth, Texas. The loan was granted and they received $100,000 to help grow their Arlington, Texas business.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
ARLINGTON, TX 76013
SBA Loan Lender
RIVERBEND BANK
2000 HANDLEY EDERVILLE RD
FORT WORTH, TX 76118
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
235990 - Special Trade Contractors
Loan Approval Date
6/25/2003
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
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 9 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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 Riverbend 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:
504 Loans
SBA Approved Banks in Fort Worth, Texas
SBA Lenders in Texas