How to Get a Loan for Shellfish Fishing

Looking for SBA loans for shellfish fishing? Talk to a banker who works with the SBA. This $105,000 shellfish fishing loan was issued by a Texas bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First State Bank, out of Clute, Texas. The loan was granted and they received $105,000 to help grow their Freeport, Texas business.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH FISHING
FREEPORT, TX 77541

SBA Loan Lender

FIRST STATE BANK
200 N BRAZOSPORT BLVD
CLUTE, TX 77531

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

11/21/2002

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $105,000. How would you spend $105,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - Friends and Family

Banks in Clute, Texas

Getting a Business Loan in Texas