Raising Money for Ball and Roller Bearing Manufacturing

With these bank loans for ball and roller bearing manufacturing, the SBA guarantees the lender that the loan will be repaid. This ball and roller bearing manufacturing loan for $269,000 was given to a Texas entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Sterling Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: BALL AND ROLLER BEARINGS
HOUSTON, TX 77040

SBA Loan Lender

STERLING BANK
13300 ALMEDA RD
HOUSTON, TX 77045

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3562 - Ball and Roller Bearings

NAICS Code

332991 - Ball and Roller Bearing Manufacturing

Loan Approval Date

3/25/2002

Loan Approval Gross Amount

$269,000

Loan Approval from the SBA

Of the total $269,000 loan amount, the SBA guaranteed $201,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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.

Related Links:

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Banks in Houston, Texas

Texas SBA 7A Banks