Growing Company Gets a Texas Business Loan

Bank loans in Texas are tough to come by these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Laredo, Texas was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The Laredo National Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
LAREDO, TX 78040

SBA Loan Lender

THE LAREDO NATIONAL BANK
2211 GUADALUPE ST
LAREDO, TX 78043

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$74,160

Loan Approval from the SBA

Of the total $74,160 loan amount, the SBA guaranteed $63,036.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Laredo National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Laredo National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Raising Venture Capital

Good Banks for Small Business in Laredo, Texas

Getting an SBA Loan in Texas