Company Gets a Texas Small Business Loan

TexasSBA loans are available to Texas entrepreneurs through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in Wimberley, Texas was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Ozona National Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
WIMBERLEY, TX 78676

SBA Loan Lender

OZONA NATIONAL BANK
503 11TH ST
OZONA, TX 76943

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial 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.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

3/6/2003

Loan Approval Gross Amount

$651,500

Loan Approval from the SBA

Of the total $651,500 loan amount, the SBA guaranteed $488,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. The loan application did not indicate that the small business promised to use the funding 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ozona National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ozona 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.

Related Links:

Role of Business Plan When Raising Money

Good Banks for Small Business in Ozona, Texas

SBA Participating Banks in Texas