Bank Loans for Special Trade Contractors

With these bank loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $500,000 was given to a Texas entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Dumas, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Herring Bank, based in Amarillo, Texas.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
DUMAS, TX 79029

SBA Loan Lender

HERRING BANK
2500 S COULTER ST, STE 123
AMARILLO, TX 79106

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

4/27/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Herring Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Herring 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:

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Good Banks for Small Business in Amarillo, Texas

Getting an SBA Loan in Texas