Firm Gets a Texas Bank Loan

TexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in El Paso, Texas was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from United Bank - El Paso Del Norte. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EL PASO, TX 79912

SBA Loan Lender

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

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/29/2006

Loan Approval Gross Amount

$310,500

Loan Approval from the SBA

Of the total $310,500 loan amount, the SBA guaranteed $232,875.

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 138 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Bank - El Paso Del Norte are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Accountant's Role in Securing Financing

SBA 7A Lenders in El Paso, Texas

SBA Participating Banks in Texas