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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Alamo, Business Loans > The Frost National Bank Alamo Business Loans > Business Services Loan | ||||
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How to Get a Small Business Loan in Mcallen, Texas
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Firm Gets a Texas SBA LoanSmall business loans in Texas are tough to come by these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA. By giving the right information to The Frost National Bank, this Mcallen, Texas business was able to get an SBA loan. To get this loan, the loan applicant 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: BUSINESS SERVICES SBA Loan Lender THE FROST NATIONAL BANK This lender issued this particular SBA bank 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. SIC Code 7389 - Business Services Loan Approval Date 5/17/2000 Loan Approval Gross Amount $72,000 Loan Approval from the SBA Of the total $72,000 loan amount, the SBA guaranteed $57,600. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Frost National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Participating Banks in Alamo, Texas
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