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December 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Paso, Business Loans > United Bank - El Paso Del Norte El Paso Business Loans > Support Services Loan | ||||
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How to Get an SBA Loan in El Paso, Texas
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Texas Bank Loan Issued to Support Services CompanyTexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan. By giving the right information to United Bank - El Paso Del Norte, this El Paso, Texas business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES SBA Loan Lender UNITED BANK - EL PASO DEL NORTE This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 561990 - Support Services Loan Approval Date 4/30/2003 Loan Approval Gross Amount $64,360 Loan Approval from the SBA Of the total $64,360 loan amount, the SBA guaranteed $54,706. 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 only one employee. The SBA loan application for the borrower indicated that the funding would help create 1 new job. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank - El Paso Del Norte had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank - El Paso Del Norte 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. Related Links: Dealing With Venture Capitalists SBA 7A Banks for El Paso, Texas Loans
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