SBA Loan from Sterling Bank Helps Plastics Bottles Company

Sterling Bank 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 received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Sterling Bank, out of Houston, Texas. The loan was granted and they received $1,020,000 to help grow their Baytown, Texas business.

SBA Loan Borrower

COMPANY TYPE: PLASTICS BOTTLES
BAYTOWN, TX 77520

SBA Loan Lender

STERLING BANK
5757 MEMORIAL DR
HOUSTON, TX 77007

This debt financing 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.

SIC Code

3085 - Plastics Bottles

NAICS Code

326160 - Plastics Bottle Manufacturing

Loan Approval Date

1/4/2000

Loan Approval Gross Amount

$1,020,000

Loan Approval from the SBA

Of the total $1,020,000 loan amount, the SBA guaranteed $749,996.

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 24 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Baytown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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