Lubbock, Texas Business Gets SBA-Guaranteed Funding from Lubbock National Bank

An SBA loan from Lubbock National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lubbock, Texas business owner got a $565,702 loan.

Getting a small business loan in Lubbock, Texas was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Lubbock National Bank, operating out of Lubbock, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
LUBBOCK, TX 79424

SBA Loan Lender

LUBBOCK NATIONAL BANK
4811 50TH ST
LUBBOCK, TX 79414

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

6/15/2007

Loan Approval Gross Amount

$565,702

Loan Approval from the SBA

Of the total $565,702 loan amount, the SBA guaranteed $424,276.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lubbock National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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