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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Midland, Business Loans > Community National Bank Midland Business Loans > Eating Places Loan | ||||
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Community National Bank Midland
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Community National Bank SBA Loan to Eating Places CompanyAn SBA loan from Community National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Midland, Texas business owner got a $240,000 loan. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Community National Bank, out of Midland, Texas. The loan was granted and they received $240,000 to help grow their Midland, Texas business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender COMMUNITY NATIONAL BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/9/2007 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. 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 15 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: The Friends and Family Network SBA Approved Banks in Midland, Texas
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