Farm Machinery and Equipment Manufacturing Commercial Loans

With these commercial loans for farm machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This farm machinery and equipment manufacturing loan for $49,314 was given to a Texas entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Security Bank, out of Idalou, Texas. The loan was granted and they received $49,314 to help grow their Idalou, Texas business.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT
IDALOU, TX 79329

SBA Loan Lender

SECURITY BANK
302 MAIN ST
IDALOU, TX 79329

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3523 - Farm Machinery and Equipment

NAICS Code

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

4/7/2000

Loan Approval Gross Amount

$49,314

Loan Approval from the SBA

Of the total $49,314 loan amount, the SBA guaranteed $36,986.

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 20 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Find an SBA Lender in Idalou, Texas

Getting an SBA Loan in Texas