First Bank & Tr - Memphis SBA Loan to Manufacturing Industries Company

Want a Texas business loan? Here's one Texas business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Memphis, Texas back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from First Bank & Tr - Memphis, operating out of Memphis, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
MEMPHIS, TX 79245

SBA Loan Lender

FIRST BANK & TR - MEMPHIS
501 MAIN ST
MEMPHIS, TX 79245

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

Loan Approval Date

5/12/2000

Loan Approval Gross Amount

$39,000

Loan Approval from the SBA

Of the total $39,000 loan amount, the SBA guaranteed $31,200.

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 5 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $39,000. How would you spend $39,000 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.

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