Nacogdoches, Texas Bank Lends Money to Eating Places Company in Nacogdoches, Texas

Thinking about meeting with a Nacogdoches, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Nacogdoches bank, that was approved by the SBA.

Applying for an SBA loan with Commercial Bank Of Texas worked out well for our friends at one local firm in Nacogdoches, Texas. They got an SBA loan for $60,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NACOGDOCHES, TX 75961

SBA Loan Lender

COMMERCIAL BANK OF TEXAS
215 E MAIN
NACOGDOCHES, TX 75961

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring 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

5812 - Eating Places

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Nacogdoches 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.

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