Lubbock, Texas Business Gets SBA-Guaranteed Funding from First Bank & Trust Company

First Bank & Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Lubbock, Texas, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First Bank & Trust Company, based in Lubbock, Texas.

SBA Loan Borrower

COMPANY TYPE: ENAMELED IRON AND METAL SANITARY WARE MANUFACTURING
LUBBOCK, TX 79425

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

332998 - Enameled Iron and Metal Sanitary Ware Manufacturing

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$125,800

Loan Approval from the SBA

Of the total $125,800 loan amount, the SBA guaranteed $106,930.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $125,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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