Growing Company Gets a Texas Bank Loan
Bank loans in Texas are tough to come by these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.
Getting a small business loan in Houston, Texas was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS
HOUSTON, TX 77034
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
421120 - Motor Vehicle Supplies and New Parts Wholesalers
Loan Approval Date
7/2/2002
Loan Approval Gross Amount
$104,000
Loan Approval from the SBA
Of the total $104,000 loan amount, the SBA guaranteed $78,000.
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 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs.
Next Steps for Getting an SBA Loan
If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Role of Business Plan When Raising Money
Small Business Banks in Houston, Texas
Texas SBA Bank Lenders