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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Southwest Bank Fort Worth Business Loans > Millwork Loan | ||||
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Raising Money in Mansfield, Texas With SBA Loans
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Mansfield, Texas Entrepreneur Gets a Small Business LoanTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. By giving the right information to Southwest Bank, this Mansfield, Texas business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MILLWORK SBA Loan Lender SOUTHWEST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 321918 - Millwork Loan Approval Date 9/22/2004 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $237,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need business start up money in Mansfield TX, you ought to talk with a local Mansfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mansfield businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $475,000 loan. Remember, anyone can do it... so why not you? 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: Best Banks for Small Business in Fort Worth, Texas
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