Loans for Services for the Elderly and Persons with Disabilities

Looking for loans for services for the elderly and persons with disabilities? The SBA may be the answer. This $48,000 services for the elderly and persons with disabilities loan was issued by a Texas bank.

This small firm knew how to go about getting a business bank loan. Based in Weslaco, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Border Cap. Bank, based in Mcallen, Texas.

SBA Loan Borrower

COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
WESLACO, TX 78596

SBA Loan Lender

BORDER CAP. BANK
1801 S MCCOLL RD
MCALLEN, TX 78503

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Border Cap. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Loan

Small Bank Loans in Mcallen, Texas

SBA Lenders in Texas