Texas State Bank SBA Loan to Retail Stores Company

An SBA loan from Texas State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Port Arthur, Texas business owner got a $24,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Texas State Bank, out of Port Neches, Texas. The loan was granted and they received $24,000 to help grow their Port Arthur, Texas business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
PORT ARTHUR, TX 77642

SBA Loan Lender

TEXAS STATE BANK
2927 NALL
PORT NECHES, TX 77651

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

8/22/2000

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $19,200.

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 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Texas 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.

Related Links:

Microlending as a Small Business Funding Source

Small Business Banks in Port Neches, Texas

SBA Lenders in Texas