Tyler, Texas Bank Gives SBA Loan to Health Practitioners Company

Get to know Tyler, Texas banks that specialize in SBA loans and know how to work with entrepreneurs. Citizens 1st Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Cypress, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Citizens 1st Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONERS
CYPRESS, TX 77429

SBA Loan Lender

CITIZENS 1ST BANK
2001 E SOUTHEAST LOOP 223
TYLER, TX 75703

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

621399 - Health Practitioners

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $47,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Cypress or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Good Banks for Small Business in Tyler, Texas

SBA Lenders in Texas