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November 24, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Fabricated Metal Products Loan | ||||
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Texas Bank SBA Loans
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Business Loan from Citicapital Small Business Finance Given to Fabricated Metal Products CompanyCiticapital Small Business Finance is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Citicapital Small Business Finance, based in Irving, Texas. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCTS SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3499 - Fabricated Metal Products Loan Approval Date 1/28/2000 Loan Approval Gross Amount $79,800 Loan Approval from the SBA Of the total $79,800 loan amount, the SBA guaranteed $59,850. 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 7 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 14 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citicapital Small Business Finance had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citicapital Small Business Finance made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Friends and Family Small Bank Loans in Irving, Texas
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