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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Nacogdoches, Business Loans > Commercial Bank Of Texas Nacogdoches Business Loans > Sporting Goods Stores Loan | ||||
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Business Loan from Commercial Bank Of Texas
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Commercial Bank Of Texas SBA Loan to Sporting Goods Stores CompanyCommercial Bank Of Texas is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Nacogdoches, Texas was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Commercial Bank Of Texas, operating out of Nacogdoches, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender COMMERCIAL BANK OF TEXAS The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 7/22/2004 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Nacogdoches, Texas
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