Katy, Texas Entrepreneur Gets a Bank Loan

Looking to get a Texas small business loan? This Texas entrepreneur got a small business loan, provided by a Mississippi bank that works with the SBA to help small business owners.

Getting a small business loan in Katy, Texas was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Trustmark National Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
KATY, TX 77494

SBA Loan Lender

TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$270,500

Loan Approval from the SBA

Of the total $270,500 loan amount, the SBA guaranteed $202,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, 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.

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