First Bank & Trust Company SBA Loan to Limited-Service Restaurants Company

An SBA loan from First Bank & Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lubbock, Texas business owner got a $40,000 loan.

Getting a small business loan in Lubbock, Texas was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Bank & Trust Company, operating out of Lubbock, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LUBBOCK, TX 79401

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/14/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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 $40,000 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.

Related Links:

Getting a Small Business Loan

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Getting an SBA Loan in Texas