Lubbock, Texas Business Gets SBA-Guaranteed Funding from Commercial State Bank

Commercial State Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

Getting a small business loan in Lubbock, Texas was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Commercial State Bank, operating out of Andrews, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES
LUBBOCK, TX 79424

SBA Loan Lender

COMMERCIAL STATE BANK
200 S MAIN ST
ANDREWS, TX 79714

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8721 - Accounting, Auditing, and Bookkeeping Services

NAICS Code

541219 - Accounting Services

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 23 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

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 Commercial State 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:

Borrowing Money from Friends and Family

Small Bank Loans in Andrews, Texas

Getting an SBA Loan in Texas