Growing Company Gets a Texas Business Loan

Bank loans in Texas are hard to find these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Lubbock, Texas was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from American State Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
LUBBOCK, TX 79423

SBA Loan Lender

AMERICAN STATE BANK
1401 AVE 'Q'
LUBBOCK, TX 79401

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$599,600

Loan Approval from the SBA

Of the total $599,600 loan amount, the SBA guaranteed $449,700.

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 75 employees. The SBA loan application for the borrower indicated that the loan would help retain 75 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like American State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Advice on Getting a Small Business Loan

Best Lubbock, Texas Banks for Small Business

Texas SBA 7A Lenders