 |
 |
December 18, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Equity Bank, Ssb Dallas Business Loans > Management Investment Offices Loan | ||||
 |
||||
Small Business Banks for Small Businesses in Texas
|
||||
 |
Growing Company Gets a Texas Bank LoanTexasBank loans are available to Texas firms through the SBA. In this case, a Texas bank provides the loan. This small business, based in Winnsboro, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Equity Bank, Ssb. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MANAGEMENT INVESTMENT OFFICES SBA Loan Lender EQUITY BANK, SSB This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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. SIC Code 6722 - Management Investment Offices NAICS Code 525910 - Open-End Investment Funds Loan Approval Date 4/14/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $60,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Find an SBA Lender in Dallas, Texas
|
|
||
|
||||
|
|
||||