Fort Stockton, Texas Bank Gives SBA Loan to Residential Care Facilities Company

Thinking about meeting with a Fort Stockton, Texas bank about a business loan? Here's one Texas business loan, issued by a Fort Stockton bank, that was approved by the SBA.

Applying for an SBA loan with Pecos County State Bank worked out well for our friends at one local business in Fort Stockton, Texas. They received an SBA loan for $1,774,000. Nice!

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE FACILITIES
FORT STOCKTON, TX 79735

SBA Loan Lender

PECOS COUNTY STATE BANK
500 N MAIN
FORT STOCKTON, TX 79735

This small business loan 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.

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

7/20/2006

Loan Approval Gross Amount

$1,774,000

Loan Approval from the SBA

Of the total $1,774,000 loan amount, the SBA guaranteed $1,330,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Pecos County State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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