SBA Loan from 1st National Bank - Ballinger Helps Men's Clothing Stores Company

An SBA loan from 1st National Bank - Ballinger typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ballinger, Texas business owner got a $150,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank - Ballinger, out of Ballinger, Texas. The loan was granted and they received $150,000 to help grow their Ballinger, Texas business.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
BALLINGER, TX 76821

SBA Loan Lender

1ST NATIONAL BANK - BALLINGER
911 HUTCHINGS AVE
BALLINGER, TX 76821

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

2/19/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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