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November 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > The Frost National Bank San Antonio Business Loans > Fabricated Metal Products Loan | ||||
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Texas SBA Lenders
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San Antonio, Texas Lender Lends Money to Fabricated Metal Products CompanyWant to talk with a San Antonio, Texas bank about an SBA loan? Here's one Texas business loan, issued by a San Antonio bank, that was approved by the SBA. Applying for an SBA loan with The Frost National Bank worked out well for our friends at one local business in San Antonio, Texas. The business was able to get an SBA loan for $150,000. Nice! SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCTS SBA Loan Lender THE FROST NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 3499 - Fabricated Metal Products Loan Approval Date 3/9/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 40 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 40 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links:
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