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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > First Bank & Trust Company Lubbock Business Loans > Millwork Loan | ||||
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SBA Lender Texas
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Lubbock, Texas Business Gets SBA-Guaranteed Funding from First Bank & Trust CompanyAn 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 $130,000 loan. This business knew how to go about getting a business bank loan. Based in Lubbock, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First Bank & Trust Company, based in Lubbock, Texas. SBA Loan Borrower COMPANY TYPE: MILLWORK SBA Loan Lender FIRST BANK & TRUST COMPANY 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 321918 - Millwork Loan Approval Date 6/7/2002 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Lubbock or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Find an SBA Lender in Lubbock, Texas
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