The Laredo National Bank SBA Loan to Apparel And Accessory Stores Company

The Laredo National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in South Padre Island, Texas was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Laredo National Bank, operating out of Del Rio, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
SOUTH PADRE ISLAND, TX 78597

SBA Loan Lender

THE LAREDO NATIONAL BANK
525 S MAIN ST
DEL RIO, TX 78840

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5699 - Apparel and Accessory Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$935,000

Loan Approval from the SBA

Of the total $935,000 loan amount, the SBA guaranteed $701,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 19 employees. This SBA loan request indicated that the loan would help create 19 new jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Laredo National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Best Banks for Small Business in Del Rio, Texas

Texas SBA 7A Banks