SBA Loan from Commercial State Bank Helps Waste Collection Company

An SBA loan from Commercial State 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 $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Odessa, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Commercial State Bank, based in Andrews, Texas.

SBA Loan Borrower

COMPANY TYPE: WASTE COLLECTION
ODESSA, TX 79766

SBA Loan Lender

COMMERCIAL STATE BANK
200 S MAIN ST
ANDREWS, TX 79714

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562119 - Waste Collection

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commercial State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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