Slaton, Texas Business Gets SBA-Guaranteed Funding from American State Bank

American State Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with American State Bank, out of Slaton, Texas. The loan was granted and they received $37,300 to help grow their Slaton, Texas business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
SLATON, TX 79364

SBA Loan Lender

AMERICAN STATE BANK
1800 W DIVISION ST
SLATON, TX 79364

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

235310 - Electrical Contractors

Loan Approval Date

6/22/2001

Loan Approval Gross Amount

$37,300

Loan Approval from the SBA

Of the total $37,300 loan amount, the SBA guaranteed $31,705.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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