SBA Loan from Texas Coastal Bank Helps Retail Stores Company

An SBA loan from Texas Coastal Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pasadena, Texas business owner got a $50,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Pasadena, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Texas Coastal Bank, based in Pasadena, Texas.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
PASADENA, TX 77502

SBA Loan Lender

TEXAS COASTAL BANK
6731 SPENCER HWY
PASADENA, TX 77505

This lender issued this particular 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.

SIC Code

5999 - Retail Stores

Loan Approval Date

2/1/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 7A Banks in Pasadena, Texas

Getting an SBA Loan in Texas