Lone Star National Bank SBA Loan to Apparel And Accessory Stores Company

Lone Star 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 Mcallen, Texas was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Lone Star National Bank, operating out of Pharr, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
MCALLEN, TX 78501

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5699 - Apparel and Accessory Stores

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $60,000.

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 4 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lone Star National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lone Star 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.

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