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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > The Woodlands, Business Loans > Woodforest National Bank The Woodlands Business Loans > Farm And Garden Machinery And Equipment Loan | ||||
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Woodforest National Bank Small Business Magnolia
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Magnolia, Texas Business Gets SBA-Guaranteed Funding from Woodforest National BankWoodforest National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Magnolia, Texas was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Woodforest National Bank, operating out of The Woodlands, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT SBA Loan Lender WOODFOREST NATIONAL BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5083 - Farm and Garden Machinery and Equipment Loan Approval Date 5/3/2000 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $97,500. 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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are working on finding money to start a business in Magnolia TX, you ought to talk with a local Magnolia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Magnolia businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Woodforest National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Woodforest National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in The Woodlands, Texas
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