Dalhart, Texas Business Gets SBA-Guaranteed Funding from 1st National Bank - Canadian

An SBA loan from 1st National Bank - Canadian typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dalhart, Texas business owner got a $24,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dalhart, Texas was able to borrow $24,000 from 1st National Bank - Canadian. The SBA made the loan possible by guaranteeing $20,400 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
DALHART, TX 79022

SBA Loan Lender

1ST NATIONAL BANK - CANADIAN
200 MAIN ST
CANADIAN, TX 79014

This lender issued this particular 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

453110 - Florists

Loan Approval Date

5/24/2001

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $20,400.

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

Getting an SBA Loan For Your 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Banks in Canadian, Texas

Where to Get an SBA Loan Texas