Longview, Texas Business Gets SBA-Guaranteed Funding from Citizens National Bank

An SBA loan from Citizens National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Longview, Texas business owner got a $158,950 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Longview, Texas was able to borrow $158,950 from Citizens National Bank. The SBA made the loan possible by guaranteeing $119,212 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LONGVIEW, TX 75604

SBA Loan Lender

CITIZENS NATIONAL BANK
201 W MAIN ST
HENDERSON, TX 75652

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/27/2007

Loan Approval Gross Amount

$158,950

Loan Approval from the SBA

Of the total $158,950 loan amount, the SBA guaranteed $119,212.

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 4 employees. The loan application indicated that the borrowed money would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Realistic Debt Financing Options

Who Lends Money to Small Businesses in Henderson, Texas

Texas SBA Banks