First State Bank SBA Loan to Men's And Boys' Clothing And Accessory Stores Company

An SBA loan from First State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spearman, Texas business owner got a $206,000 loan.

Getting a small business loan in Spearman, Texas was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First State Bank, operating out of Spearman, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES
SPEARMAN, TX 79081

SBA Loan Lender

FIRST STATE BANK
1 NE COURT PL
SPEARMAN, TX 79081

This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

5611 - Men's and Boys' Clothing and Accessory Stores

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$206,000

Loan Approval from the SBA

Of the total $206,000 loan amount, the SBA guaranteed $154,500.

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

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Family and Friend Investors - Your First Financiers

SBA Banks in Spearman, Texas

Getting an SBA Loan in Texas