SBA Loans for Electrical Equipment and Component Manufacturing

With these SBA loans for electrical equipment and component manufacturing, the SBA guarantees the lender that the loan will be repaid. This electrical equipment and component manufacturing loan for $175,000 was given to a Texas entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Georgetown, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Texas Bank, based in Georgetown, Texas.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
GEORGETOWN, TX 78628

SBA Loan Lender

FIRST TEXAS BANK
900 S AUSTIN AVE
GEORGETOWN, TX 78626

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $87,500.

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 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Texas Bank 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.

Related Links:

VC Firms on Twitter

Best Banks in Georgetown, Texas

SBA Participating Banks in Texas