Texas Business Loan Issued to Aluminum Die-Castings Company

Bank loans in Texas are are few and far betweeen these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Mcallen, Texas was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Rio Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ALUMINUM DIE-CASTINGS
MCALLEN, TX 78504

SBA Loan Lender

RIO BANK
1655 N 23RD ST
MCALLEN, TX 78501

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3363 - Aluminum Die-Castings

NAICS Code

331521 - Aluminum Die-Casting Foundries

Loan Approval Date

3/30/2001

Loan Approval Gross Amount

$685,100

Loan Approval from the SBA

Of the total $685,100 loan amount, the SBA guaranteed $513,825.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 19 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Bank Credit Lines

Banks in Mcallen, Texas

SBA Participating Banks in Texas