El Paso, Texas Bank Lends Money to Materials Recovery Facilities Company in El Paso, Texas

Find El Paso, Texas banks that specialize in business loans and know how to work with entrepreneurs. Washington Fed. S & L Association 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 small company received funding from Washington Fed. S & L Association. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MATERIALS RECOVERY FACILITIES
EL PASO, TX 79902

SBA Loan Lender

WASHINGTON FED. S & L ASSOCIATION
2290 TRAEWOOD DR
EL PASO, TX 79912

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in El Paso TX, you ought to talk with a local El Paso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Paso businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Washington Fed. S & L Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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