SBA Loan from Southside Bank Helps Fabricated Structural Metal Manufacturing Company

An SBA loan from Southside Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tyler, Texas business owner got a $80,000 loan.

Getting a small business loan in Tyler, Texas was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Southside Bank, operating out of Tyler, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING
TYLER, TX 75708

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 14 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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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