El Paso, Texas Lender Lends Money to Lithographic Commercial Printing Company

Thinking about meeting with an El Paso, Texas bank about an SBA 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 got an SBA loan for $232,232. Nice!

SBA Loan Borrower

COMPANY TYPE: LITHOGRAPHIC COMMERCIAL PRINTING
EL PASO, TX 79902

SBA Loan Lender

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

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2752 - Lithographic Commercial Printing

Loan Approval Date

1/13/2000

Loan Approval Gross Amount

$232,232

Loan Approval from the SBA

Of the total $232,232 loan amount, the SBA guaranteed $174,174.

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 11 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Find an SBA Lender in El Paso, Texas

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