Citizens Bank SBA Loan to Eating Places Company

Looking to get a Texas small business loan? Here's one Texas business loan that was approved by the SBA.

This small business needed an SBA business loan in Tuscola, Texas back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Abilene, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
TUSCOLA, TX 79562

SBA Loan Lender

CITIZENS BANK
4201 S TREADAWAY BLVD
ABILENE, TX 79602

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/26/2000

Loan Approval Gross Amount

$168,520

Loan Approval from the SBA

Of the total $168,520 loan amount, the SBA guaranteed $126,390.

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 24 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

The Friends and Family Network

Small Business Banks in Abilene, Texas

Getting an SBA Loan in Texas