Entrepreneur Works With El Paso, Texas Bank to Get an SBA Loan

Find El Paso, Texas banks that specialize in SBA loans and know how to work with entrepreneurs. United Bank - El Paso Del Norte is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
EL PASO, TX 79936

SBA Loan Lender

UNITED BANK - EL PASO DEL NORTE
125 MESA HILLS DR
EL PASO, TX 79912

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$228,800

Loan Approval from the SBA

Of the total $228,800 loan amount, the SBA guaranteed $114,400.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $228,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Best El Paso, Texas Banks for Small Business

SBA Lenders in Texas