The Frost National Bank SBA Loan to Lumber And Other Building Materials Dealer Company

Searching for a Texas small business loan? Here's one Texas business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harlingen, Texas was able to borrow $245,065 from The Frost National Bank. The SBA made the loan possible by guaranteeing $183,799 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
HARLINGEN, TX 78550

SBA Loan Lender

THE FROST NATIONAL BANK
809 MAIN ST
ALAMO, TX 78516

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

Loan Approval Date

1/13/2000

Loan Approval Gross Amount

$245,065

Loan Approval from the SBA

Of the total $245,065 loan amount, the SBA guaranteed $183,799.

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 33 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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