Lubbock, Texas Entrepreneur Gets a Business Loan

TexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan.

You can learn something about getting a small business loan in Lubbock, Texas by studying this loan to a local company, made back in 2003. Banks like First Bank & Trust Company may also be willing to lend to you, given that they granted this 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 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

722211 - Limited-Service Restaurants

Loan Approval Date

11/14/2003

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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 25 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $104,000 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:

Business Cash Advances

Small Business Banks in Lubbock, Texas

Getting an SBA Loan in Texas