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December 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Crane, Business Loans > Security State Bank Crane Business Loans > Newspaper Publishers Loan | ||||
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Get a Small Business Loan from Security State Bank
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Mc Camey, Texas Business Gets SBA-Guaranteed Funding from Security State BankSecurity 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 received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Security State Bank, out of Crane, Texas. The loan was granted and they received $120,000 to help grow their Mc Camey, Texas business. SBA Loan Borrower COMPANY TYPE: NEWSPAPER PUBLISHERS SBA Loan Lender SECURITY STATE BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 511110 - Newspaper Publishers Loan Approval Date 3/28/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: SBA Approved Banks in Crane, Texas
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