SBA Loan from International Bank Of Commerce Helps Operators Of Residential Mobile Home Sites Company

An SBA loan from International Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Laredo, Texas business owner got a $150,000 loan.

Getting a small business loan in Laredo, Texas was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from International Bank Of Commerce, operating out of Laredo, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: OPERATORS OF RESIDENTIAL MOBILE HOME SITES
LAREDO, TX 78046

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
2415 S ZAPATA HWY
LAREDO, TX 78046

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6515 - Operators of Residential Mobile Home Sites

NAICS Code

531190 - Lessors of Real Estate Property

Loan Approval Date

9/1/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 12 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

We can help you find the best banks for small businesses in Laredo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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