Growing Company Gets a Texas SBA Loan

TexasBank loans are available to Texas firms through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in Odessa, Texas was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ODESSA, TX 79762

SBA Loan Lender

SOUTHWEST BANK
4800 E 42ND ST
ODESSA, TX 79762

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $45,900.

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 42 employees. This SBA loan request indicated that the loan would help retain 42 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southwest Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southwest Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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SBA Participating Banks in Odessa, Texas

Getting an SBA Loan in Texas