Lone Star National Bank SBA Loan to Knit Outerwear Mills Company

Searching for a Texas SBA loan? Here's one Texas business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Pharr, Texas, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Lone Star National Bank, based in Pharr, Texas.

SBA Loan Borrower

COMPANY TYPE: KNIT OUTERWEAR MILLS
PHARR, TX 78577

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2253 - Knit Outerwear Mills

Loan Approval Date

5/30/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

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 125 employees. This SBA loan request indicated that the borrowed money would help create 47 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, 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:

Business Incubators

SBA Participating Banks in Pharr, Texas

Getting a Business Loan in Texas