Security Bank SBA Loan to Plumbing, Heating, And Air-Conditioning Company

An SBA loan from Security 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 $22,067 loan.

Getting a small business loan in Lubbock, Texas was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Security Bank, operating out of Idalou, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING
LUBBOCK, TX 79424

SBA Loan Lender

SECURITY BANK
302 MAIN ST
IDALOU, TX 79329

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1711 - Plumbing, Heating, and Air-Conditioning

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

9/27/2000

Loan Approval Gross Amount

$22,067

Loan Approval from the SBA

Of the total $22,067 loan amount, the SBA guaranteed $16,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Startup Funding Tip

Banks in Idalou, Texas

SBA Lenders in Texas