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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Midland, Business Loans > Community National Bank Midland Business Loans > Support Services Loan | ||||
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Midland SBA Lenders
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Midland, Texas Bank Gives SBA Loan to Support Services CompanyWant to talk with a Midland, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Midland bank, that was approved by the SBA. Applying for an SBA loan with Community National Bank worked out well for our friends at one local company in Midland, Texas. They received an SBA loan for $132,000. Way to go! SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES SBA Loan Lender COMMUNITY NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561990 - Support Services Loan Approval Date 2/28/2005 Loan Approval Gross Amount $132,000 Loan Approval from the SBA Of the total $132,000 loan amount, the SBA guaranteed $112,200. 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 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Midland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Midland, Texas
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