SBA Loan from American Bank Of Texas Helps Marinas Company

An SBA loan from American Bank Of Texas typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pottsboro, Texas business owner got a $119,200 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with American Bank Of Texas, out of Sherman, Texas. The loan was granted and they received $119,200 to help grow their Pottsboro, Texas business.

SBA Loan Borrower

COMPANY TYPE: MARINAS
POTTSBORO, TX 75076

SBA Loan Lender

AMERICAN BANK OF TEXAS
2011 TEXOMA PKWY
SHERMAN, TX 75090

This loan for a small business was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4493 - Marinas

NAICS Code

713930 - Marinas

Loan Approval Date

9/18/2000

Loan Approval Gross Amount

$119,200

Loan Approval from the SBA

Of the total $119,200 loan amount, the SBA guaranteed $89,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Pottsboro TX, you ought to talk with a local Pottsboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pottsboro businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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