Henderson, Texas Bank Gives SBA Loan to Retail Bakeries Company

A Henderson, Texas business loan can be yours. Learn how one firm got a $148,623 business loan from this Texas bank.

This loan to an entrepreneur is a good example of an SBA loan. Texas Bank made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
HENDERSON, TX 75652

SBA Loan Lender

TEXAS BANK
1120 US HWY 79 NORTH
HENDERSON, TX 75652

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

7/9/2002

Loan Approval Gross Amount

$148,623

Loan Approval from the SBA

Of the total $148,623 loan amount, the SBA guaranteed $126,329.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

If you are working on finding money to start a business in Henderson TX, you ought to talk with a local Henderson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Henderson businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Texas Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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