Lone Star National Bank Gives SBA Loan to Special Trade Contractors Company

Small 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.

This small business, based in Mcallen, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Lone Star National Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
MCALLEN, TX 78501

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

Loan Approval Date

5/18/2000

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. This SBA loan request indicated that the borrowed money would help create 5 new jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lone Star National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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