Brownsville, Texas Business Gets SBA-Guaranteed Funding from Texas State Bank

Texas State 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 small firm knew how to go about getting a business bank loan. Based in Brownsville, Texas, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Texas State Bank, based in Mcallen, Texas.

SBA Loan Borrower

COMPANY TYPE: PROCESS, PHYSICAL DISTRIBUTION, AND LOGISTICS CONSULTING SERVICES
BROWNSVILLE, TX 78521

SBA Loan Lender

TEXAS STATE BANK
3900 N 10TH ST
MCALLEN, TX 78501

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

541614 - Process, Physical Distribution, and Logistics Consulting Services

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$103,200

Loan Approval from the SBA

Of the total $103,200 loan amount, the SBA guaranteed $87,720.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Brownsville TX, you ought to talk with a local Brownsville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brownsville 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 Texas State 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.

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