SBA Loan from First National Bank - Huntsville Helps Floor Covering Stores Company

First National Bank - Huntsville 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 growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First National Bank - Huntsville, out of Huntsville, Texas. The loan was granted and they received $35,000 to help grow their Huntsville, Texas business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
HUNTSVILLE, TX 77340

SBA Loan Lender

FIRST NATIONAL BANK - HUNTSVILLE
1300 11TH ST
HUNTSVILLE, TX 77340

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

9/6/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $28,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Huntsville TX, you ought to talk with a local Huntsville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Huntsville businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank - Huntsville that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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