El Paso, Texas Entrepreneur Gets a Business Loan

SBA loans in Texas are are few and far betweeen these days. We take a look at one Texas SBA loan, provided by a New Mexico bank, that was approved by the SBA.

This business, based in El Paso, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Fed. A Division - Washin. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PHOTOGRAPHY
EL PASO, TX 79935

SBA Loan Lender

FIRST FED. A DIVISION - WASHIN
300 N PENNSYLVANIA AVE
ROSWELL, NM 88201

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7335 - Commercial Photography

Loan Approval Date

7/24/2000

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

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 6 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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. First Fed. A Division - Washin had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Fed. A Division - Washin 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.

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