Texas Bank Loan Issued to Measuring And Controlling Device Manufacturing Company

Looking to get a Texas business loan? This Texas entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.

This business, based in Grandview, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Grandview Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MEASURING AND CONTROLLING DEVICE MANUFACTURING
GRANDVIEW, TX 76050

SBA Loan Lender

GRANDVIEW BANK
105 E CRINER
GRANDVIEW, TX 76050

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334519 - Measuring and Controlling Device Manufacturing

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$58,400

Loan Approval from the SBA

Of the total $58,400 loan amount, the SBA guaranteed $49,640.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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