Dallas, Texas Business Gets SBA-Guaranteed Funding from Dallas National Bank

An SBA loan from Dallas National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dallas, Texas business owner got a $225,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $225,000 from Dallas National Bank. The SBA made the loan possible by guaranteeing $168,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
DALLAS, TX 75220

SBA Loan Lender

DALLAS NATIONAL BANK
2725 TURTLE CREEK BLVD
DALLAS, TX 75219

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

10/15/2002

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Dallas National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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