Business Loan from Citizens National Bank - Texas Given to Professional And Management Development Training Company

Citizens National Bank - Texas and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Cedar Spring, Texas was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citizens National Bank - Texas, operating out of Midlothian, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL AND MANAGEMENT DEVELOPMENT TRAINING
CEDAR SPRING, TX 75104

SBA Loan Lender

CITIZENS NATIONAL BANK - TEXAS
1021 E HWY 287
MIDLOTHIAN, TX 76065

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611430 - Professional and Management Development Training

Loan Approval Date

6/18/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 7 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

Related Links:

How to Raise Money

Best Banks in Midlothian, Texas

Getting an SBA Loan in Texas