Texas Bank Loan Issued to Computer Systems Design Services Company

Would a Texas SBA loan help your business get to the next level? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

This business, based in Lubbock, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Bank & Trust Company. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
LUBBOCK, TX 79424

SBA Loan Lender

FIRST BANK & TRUST COMPANY
7806 INDIANA AVE
LUBBOCK, TX 79423

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

7/20/2005

Loan Approval Gross Amount

$57,900

Loan Approval from the SBA

Of the total $57,900 loan amount, the SBA guaranteed $49,215.

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 did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank & Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Lubbock, Texas

SBA Texas Banks