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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Benbrook, Business Loans > State National Bank Benbrook Business Loans > Furniture Stores Loan | ||||
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How to Get a Small Business Loan from State National Bank
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Granbury, Texas Business Gets SBA-Guaranteed Funding from State National BankState National Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Granbury, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was State National Bank, based in Benbrook, Texas. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender STATE NATIONAL BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5712 - Furniture Stores Loan Approval Date 9/18/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 4 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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: Realistic Debt Financing Options
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