Texas SBA Loan Issued to Lawyers Company

Business loans in Texas are hard to find these days. We take a look at one Texas business loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Midland, Texas was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
MIDLAND, TX 79707

SBA Loan Lender

COMMUNITY NATIONAL BANK
401 W TEXAS, STE 100
MIDLAND, TX 79701

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541110 - Lawyers

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community 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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