How to Get a Loan for Business Support Services

With these business loans for business support services, the SBA guarantees the lender that the loan will be repaid. This business support services loan for $120,000 was given to a Texas entrepreneur in 2000.

Getting a small business loan in Mcallen, Texas was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Rio Bank, operating out of Mcallen, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
MCALLEN, TX 78501

SBA Loan Lender

RIO BANK
1655 N 23RD ST
MCALLEN, TX 78501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

12/8/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request indicated that the funding would help generate 2 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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

Related Links:

Microlending as a Small Business Funding Source

Best Mcallen, Texas Banks for Small Business

Getting an SBA Loan in Texas