First Bank Gives Business Loan to Engineering Services Company

Business loans in Texas are are few and far betweeen these days. We take a look at one Texas business loan, provided by a Missouri bank, that was approved by the SBA.

This business, based in Humble, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
HUMBLE, TX 77346

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

6/5/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

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

If you are wondering how to raise money for a company in Humble TX, you ought to talk with a local Humble SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Humble businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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