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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Odessa, Business Loans > Southwest Bank Odessa Business Loans > Industrial Supplies Wholesalers Loan | ||||
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Odessa, Texas Bank for SBA Loans
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Entrepreneur Works With Odessa, Texas Bank to Get an SBA LoanWant to talk with an Odessa, Texas bank about an SBA loan? Here's one Texas business loan, issued by an Odessa bank, that was approved by the SBA. Applying for an SBA loan with Southwest Bank worked out well for our friends at one local firm in Odessa, Texas. They got an SBA loan for $95,000. Sweet! SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES WHOLESALERS SBA Loan Lender SOUTHWEST BANK This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 421840 - Industrial Supplies Wholesalers Loan Approval Date 5/13/2003 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $47,500. 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 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Southwest Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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