Security Service Fcu SBA Loan to Medical Laboratories Company

An SBA loan from Security Service Fcu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Antonio, Texas business owner got a $220,000 loan.

Getting a small business loan in San Antonio, Texas was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security Service Fcu, operating out of San Antonio, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
SAN ANTONIO, TX 78229

SBA Loan Lender

SECURITY SERVICE FCU
16211 LA CANTERA PKWY
SAN ANTONIO, TX 78256

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

1/3/2006

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

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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