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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Pharr, Business Loans > Lone Star National Bank Pharr Business Loans > Physicians Loan | ||||
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Best Banks for Mcallen, Texas Small Business Owners
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Physicians Commercial LoansWith these commercial loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $150,000 was given to a Texas entrepreneur in 2002. Getting a small business loan in Mcallen, Texas was important for this business back in 2002 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: PHYSICIANS SBA Loan Lender LONE STAR NATIONAL BANK 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. NAICS Code 621111 - Physicians Loan Approval Date 11/19/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Lone Star 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:
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