SBA Loan from First State Bank Of Burnet Helps Water Well Drilling Company

First State Bank Of Burnet is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Granite Shoals, Texas was able to borrow $125,000 from First State Bank Of Burnet. The SBA made the loan possible by guaranteeing $93,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING
GRANITE SHOALS, TX 78634

SBA Loan Lender

FIRST STATE BANK OF BURNET
136 E WASHINGTON
BURNET, TX 78611

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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.

SIC Code

1781 - Water Well Drilling

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

3/29/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents 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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Where to Get an SBA Loan in Burnet, Texas

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TX SBA Loans from First State Bank Of Burnet

SBA Loan from First State Bank Of Burnet Helps Water Well Drilling Company