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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Retail Bakeries Loan | ||||
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Texas Bank SBA Loans
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Sterling Bank SBA Loan to Retail Bakeries CompanySearching for a Texas small business loan? Here's one Texas business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Sterling Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender STERLING BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries Loan Approval Date 6/5/2000 Loan Approval Gross Amount $43,000 Loan Approval from the SBA Of the total $43,000 loan amount, the SBA guaranteed $34,400. 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 5 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sterling Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sterling Bank 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:
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