Fort Worth, Texas Business Gets SBA-Guaranteed Funding from Community Bank

An SBA loan from Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fort Worth, Texas business owner got a $31,000 loan.

This business knew how to go about getting a business bank loan. Based in Fort Worth, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Community Bank, based in Granbury, Texas.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
FORT WORTH, TX 76133

SBA Loan Lender

COMMUNITY BANK
500 S MORGAN ST
GRANBURY, TX 76048

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

611620 - Sports and Recreation Instruction

Loan Approval Date

3/13/2002

Loan Approval Gross Amount

$31,000

Loan Approval from the SBA

Of the total $31,000 loan amount, the SBA guaranteed $26,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Business Incubators

Find an SBA Lender in Granbury, Texas

SBA Texas Lenders