Bank Loans for Floor Laying and Floor Contractors

With these bank loans for floor laying and floor contractors, the SBA guarantees the lender that the loan will be repaid. This floor laying and floor contractors loan for $57,000 was given to a Texas entrepreneur in 2000.

Getting a small business loan in Mcallen, Texas was important for this company 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: FLOOR LAYING AND OTHER FLOOR WORK
MCALLEN, TX 78501

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

1752 - Floor Laying and Other Floor Work

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

4/20/2000

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $45,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help generate 4 new jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lone Star National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Pharr, Texas Loans

Texas SBA 7A Lenders