SBA Loan from The Frost National Bank Helps Freight Transportation Arrangement Company

An SBA loan from The Frost National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Harlingen, Texas business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harlingen, Texas was able to borrow $150,000 from The Frost National Bank. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
HARLINGEN, TX 78552

SBA Loan Lender

THE FROST NATIONAL BANK
809 MAIN ST
ALAMO, TX 78516

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

488510 - Freight Transportation Arrangement

Loan Approval Date

1/4/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Frost National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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