El Paso, Texas Bank Lends Money to Heavy And Civil Engineering Construction Company in El Paso, Texas

Thinking about meeting with an El Paso, Texas bank about a small business loan? Here's one Texas business loan, issued by an El Paso bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of The West worked out well for our friends at one local company in El Paso, Texas. They received an SBA loan for $500,000. Nice!

SBA Loan Borrower

COMPANY TYPE: HEAVY AND CIVIL ENGINEERING CONSTRUCTION
EL PASO, TX 79902

SBA Loan Lender

BANK OF THE WEST
500 N MESA ST
EL PASO, TX 79901

This lender issued this SBA 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.

NAICS Code

237990 - Heavy and Civil Engineering Construction

Loan Approval Date

9/29/2004

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 48 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

The Art of Bootstrapping

SBA Participating Banks in El Paso, Texas

SBA Texas Lenders