SBA Loan from Lone Star National Bank Helps Legal Services Company

Lone Star National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcallen, Texas was able to borrow $352,112 from Lone Star National Bank. The SBA made the loan possible by guaranteeing $264,084 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
MCALLEN, TX 78504

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8111 - Legal Services

NAICS Code

561410 - Document Preparation Services

Loan Approval Date

4/30/2002

Loan Approval Gross Amount

$352,112

Loan Approval from the SBA

Of the total $352,112 loan amount, the SBA guaranteed $264,084.

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 19 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $352,112. How would you spend $352,112 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Small Business Credit Cards

SBA Participating Banks in Pharr, Texas

Find an SBA Lender in Texas