Colonial Bank SBA Loan to Cyclic Organic Crudes And Intermediates Company

Looking to get a Texas SBA loan? Here's one Texas business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Plano, Texas, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Colonial Bank, based in Mesquite, Texas.

SBA Loan Borrower

COMPANY TYPE: CYCLIC ORGANIC CRUDES AND INTERMEDIATES
PLANO, TX 75074

SBA Loan Lender

COLONIAL BANK
1522 GROSS RD
MESQUITE, TX 75149

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2865 - Cyclic Organic Crudes and Intermediates

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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