Woodforest National Bank SBA Loan to Farm And Garden Machinery And Equipment Wholesalers Company

An SBA loan from Woodforest National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Conroe, Texas business owner got a $100,000 loan.

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

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT WHOLESALERS
CONROE, TX 77306

SBA Loan Lender

WOODFOREST NATIONAL BANK
7 SWITCHBUD PL, STE 198 C
THE WOODLANDS, TX 77380

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks in The Woodlands, Texas

Getting an SBA Loan in Texas