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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 > Landscaping Services Loan | ||||
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Katy SBA Loans
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Sterling Bank Gives Small Business Loan to Landscaping Services CompanyTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. Getting a small business loan in Katy, Texas was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Sterling Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender STERLING BANK 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 561730 - Landscaping Services Loan Approval Date 7/17/2006 Loan Approval Gross Amount $312,000 Loan Approval from the SBA Of the total $312,000 loan amount, the SBA guaranteed $234,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 23 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Family and Friend Investors - Your First Financiers Find an SBA Lender in Houston, Texas
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