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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Littlefield, Business Loans > Security State Bank Littlefield Business Loans > Furniture Stores Loan | ||||
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Texas Small Business SBA Loans
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Littlefield, Texas Entrepreneur Gets a Business LoanTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. You can learn something about getting a small business loan in Littlefield, Texas by studying this loan to a local business, made back in 2004. Banks like Security State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender SECURITY STATE BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5712 - Furniture Stores NAICS Code 442110 - Furniture Stores Loan Approval Date 9/30/2004 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 9 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Good Banks for Small Business in Littlefield, Texas
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