Southwest Bank SBA Loan to Repair Shops And Related Services Company

An SBA loan from Southwest Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Odessa, Texas business owner got a $134,500 loan.

Getting a small business loan in Odessa, Texas was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank, operating out of Odessa, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
ODESSA, TX 79761

SBA Loan Lender

SOUTHWEST BANK
4800 E 42ND ST
ODESSA, TX 79762

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

10/14/2004

Loan Approval Gross Amount

$134,500

Loan Approval from the SBA

Of the total $134,500 loan amount, the SBA guaranteed $114,325.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Accountant's Role in Securing Financing

SBA Participating Banks in Odessa, Texas

Getting a Business Loan in Texas