How to Get a Loan for Racetracks

With these business loans for racetracks, the SBA guarantees the lender that the loan will be repaid. This racetracks loan for $240,000 was given to a Texas entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Floresville, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was International Bank Of Commerce, based in Eagle Pass, Texas.

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
FLORESVILLE, TX 78114

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
2395 E MAIN ST
EAGLE PASS, TX 78852

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711212 - Racetracks

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like International Bank Of Commerce 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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Where to Get an SBA Loan Texas