Farm Machinery and Equipment Manufacturing Business Loans

With these business loans for farm machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This farm machinery and equipment manufacturing loan for $150,000 was given to a Texas entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with 1st National Bank - Baird, out of Clyde, Texas. The loan was granted and they received $150,000 to help grow their Clyde, Texas business.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING
CLYDE, TX 79510

SBA Loan Lender

1ST NATIONAL BANK - BAIRD
1-20 & CHERRY LANE
CLYDE, TX 79510

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

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

10/29/2003

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 13 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Family and Friend Investors - Your First Financiers

Small Bank Loans in Clyde, Texas

Texas SBA Bank Lenders