SBA Loan from Plainscapital Bank Helps Machine Shops Company

Plainscapital Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

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

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
LUBBOCK, TX 79414

SBA Loan Lender

PLAINSCAPITAL BANK
5010 UNIVERSITY AVE
LUBBOCK, TX 79413

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/6/2003

Loan Approval Gross Amount

$20,200

Loan Approval from the SBA

Of the total $20,200 loan amount, the SBA guaranteed $10,100.

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 only one employee. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Plainscapital Bank and they will explain how you can get an SBA loan for your company.

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:

Debt Financing

SBA 7A Banks for Lubbock, Texas Loans

SBA Participating Banks in Texas