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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > City Bank Lubbock Business Loans > Retail Stores Loan | ||||
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How to Get SBA Money in Lubbock, Texas
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Firm Gets a Texas Small Business LoanTexasSmall 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 2001. Banks like City Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender CITY BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453920 - Art Dealers Loan Approval Date 9/20/2001 Loan Approval Gross Amount $169,000 Loan Approval from the SBA Of the total $169,000 loan amount, the SBA guaranteed $126,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banking Deregulation's Effects on Entrepreneurship Who Lends Money to Small Businesses in Lubbock, Texas
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