Mckinney, Texas Business Gets SBA-Guaranteed Funding from Regions Bank

An SBA loan from Regions Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mckinney, Texas business owner got a $350,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Regions Bank, out of Atlanta, Georgia. The loan was granted and they received $350,000 to help grow their Mckinney, Texas business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS
MCKINNEY, TX 75070

SBA Loan Lender

REGIONS BANK
6637 ROSWELL RD
ATLANTA, GA 30328

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423440 - Commercial Equipment Merchant Wholesalers

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Regions 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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Where to Get an SBA Loan in Atlanta, Georgia

Georgia SBA Bank Lenders