SBA Loan from Texas State Bank Helps Retail Bakeries 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 Neches, Texas business owner got a $55,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Port Neches, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Texas State Bank, based in Port Neches, Texas.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
PORT NECHES, TX 77651

SBA Loan Lender

TEXAS STATE BANK
2927 NALL
PORT NECHES, TX 77651

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

5/1/2002

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 4 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $55,000. How would you spend $55,000 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.

Related Links:

How to Raise Money

Where to Get an SBA Loan in Port Neches, Texas

Texas SBA 7A Banks