Business Loans for Farm Product Warehousing and Storage

With these business loans for farm product warehousing and storage, the SBA guarantees the lender that the loan will be repaid. This farm product warehousing and storage loan for $622,000 was given to a Texas entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Bank Of Brownfield, out of Brownfield, Texas. The loan was granted and they received $622,000 to help grow their Brownfield, Texas business.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT WAREHOUSING AND STORAGE
BROWNFIELD, TX 79316

SBA Loan Lender

FIRST BANK OF BROWNFIELD
301 W MAIN
BROWNFIELD, TX 79316

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4221 - Farm Product Warehousing and Storage

NAICS Code

493130 - Farm Product Warehousing and Storage

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$622,000

Loan Approval from the SBA

Of the total $622,000 loan amount, the SBA guaranteed $466,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 17 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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