Borrowing Money for Schiffli Machine Embroidery

Looking for bank loans for schiffli machine embroidery? Talk to a banker who works with the SBA. This $70,000 schiffli machine embroidery loan was issued by a Texas bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with State National Bank, out of Stamford, Texas. The loan was granted and they received $70,000 to help grow their Stamford, Texas business.

SBA Loan Borrower

COMPANY TYPE: SCHIFFLI MACHINE EMBROIDERY
STAMFORD, TX 79553

SBA Loan Lender

STATE NATIONAL BANK
210 S SWENSON ST
STAMFORD, TX 79553

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

313222 - Schiffli Machine Embroidery

Loan Approval Date

11/25/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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