Entrepreneur Works With Houston, Texas Bank to Get an SBA Loan

Thinking about meeting with a Houston, Texas bank about a small business loan? Here's one Texas business loan, issued by a Houston bank, that was approved by the SBA.

Applying for an SBA loan with Woodforest National Bank worked out well for our friends at one local business in Spring, Texas. The business was able to get an SBA loan for $112,700. Awesome!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
SPRING, TX 77379

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/26/2007

Loan Approval Gross Amount

$112,700

Loan Approval from the SBA

Of the total $112,700 loan amount, the SBA guaranteed $95,795.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the funding would help create 5 new jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Woodforest National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Woodforest National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

Small Business Banks in Houston, Texas

Find an SBA Lender in Texas