Kent County State Bank Gives Bank Loan to Chemical And Fertilizer Mineral Mining Company

Want a Texas business loan? This Texas entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Snyder, Texas by studying this loan to a local business, made back in 2001. Banks like Kent County State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND FERTILIZER MINERAL MINING
SNYDER, TX 79549

SBA Loan Lender

KENT COUNTY STATE BANK
102 DONOHO
JAYTON, TX 79528

This lender issued this debt financing under the SBA's 7(a) guaranteed loan 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.

SIC Code

1479 - Chemical and Fertilizer Mineral Mining

NAICS Code

212393 - Chemical and Fertilizer Mineral Mining

Loan Approval Date

6/6/2001

Loan Approval Gross Amount

$247,000

Loan Approval from the SBA

Of the total $247,000 loan amount, the SBA guaranteed $185,250.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Kent County State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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