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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > Guaranty Bank Austin Business Loans > Metal Heat Treating Loan | ||||
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Banks in Texas
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Commercial Loans for Metal Heat TreatingWith these commercial loans for metal heat treating, the SBA guarantees the lender that the loan will be repaid. This metal heat treating loan for $350,000 was given to a Texas entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Longview, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Guaranty Bank, based in Austin, Texas. SBA Loan Borrower COMPANY TYPE: METAL HEAT TREATING SBA Loan Lender GUARANTY 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 332811 - Metal Heat Treating Loan Approval Date 8/28/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 2 employees. The loan application indicated that the funding would help create 6 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Guaranty Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Guaranty 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: The Friends and Family Network SBA Participating Banks in Texas
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