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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Carlsbad, Business Loans > Western Commerce Bank Carlsbad Business Loans > Hotels And Motels Loan | ||||
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How to Get a Business Loan from Western Commerce Bank
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Denver City, Texas Business Gets SBA-Guaranteed Funding from Western Commerce BankWestern Commerce Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Western Commerce Bank, out of Carlsbad, New Mexico. The loan was granted and they received $930,000 to help grow their Denver City, Texas business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WESTERN COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/18/2007 Loan Approval Gross Amount $930,000 Loan Approval from the SBA Of the total $930,000 loan amount, the SBA guaranteed $697,500. 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Small Bank Loans in Carlsbad, New Mexico
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