SBA Loan from Texas State Bank Helps Telecommunications Company

An SBA loan from Texas State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Groves, Texas business owner got a $40,000 loan.

Getting a small business loan in Groves, Texas was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Texas State Bank, operating out of Port Neches, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: TELECOMMUNICATIONS
GROVES, TX 77619

SBA Loan Lender

TEXAS STATE BANK
2927 NALL
PORT NECHES, TX 77651

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

513390 - Telecommunications

Loan Approval Date

11/16/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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

Accountant's Role in Securing Financing

SBA Banks in Port Neches, Texas

SBA Lenders in Texas