Mabank, Texas Business Gets SBA-Guaranteed Funding from Powell State Bank

Powell State Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Mabank, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Powell State Bank, based in Powell, Texas.

SBA Loan Borrower

COMPANY TYPE: WARM AIR HEATING AND AIR CONDITIONING EQUIPMENT
MABANK, TX 75147

SBA Loan Lender

POWELL STATE BANK
100 CAR ST
POWELL, TX 75153

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank 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

5075 - Warm Air Heating and Air Conditioning Equipment

NAICS Code

334512 - Residential and Commercial Automatic Environmental Control Manufacturing

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$106,397

Loan Approval from the SBA

Of the total $106,397 loan amount, the SBA guaranteed $90,437.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Powell State 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.

Related Links:

Getting a Small Business Loan

SBA 7A Lenders in Powell, Texas

Texas SBA Bank Lenders