Entrepreneur Works With El Paso, Texas Bank to Get an SBA Loan

Thinking about meeting with an El Paso, Texas bank about an SBA loan? Here's one Texas business loan, issued by an El Paso bank, that was approved by the SBA.

Applying for an SBA loan with First National Bank worked out well for our friends at one local company in Tornillo, Texas. They received an SBA loan for $283,259. Great job!

SBA Loan Borrower

COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS
TORNILLO, TX 79853

SBA Loan Lender

FIRST NATIONAL BANK
9343 ALAMEDA
EL PASO, TX 79907

This lender issued this SBA loan under the SBA 7A lending 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.

NAICS Code

454312 - Liquefied Petroleum Gas Dealers

Loan Approval Date

7/29/2005

Loan Approval Gross Amount

$283,259

Loan Approval from the SBA

Of the total $283,259 loan amount, the SBA guaranteed $212,444.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First 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.

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