Nonmetallic Mineral Product Manufacturing Commercial Loans

Looking for commercial loans for nonmetallic mineral product manufacturing? Try the SBA. This $150,000 nonmetallic mineral product manufacturing loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $150,000 from Prosperity Bank. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan.

SBA Loan Borrower

PRECISION ENGINEERED CERAMICS,
13200 POND SPRINGS ROAD
AUSTIN, TX 78729

SBA Loan Lender

PROSPERITY BANK
900 CONGRESS AVE
AUSTIN, TX 78701

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327999 - All Other Miscellaneous Nonmetallic Mineral Product Manufacturing

Loan Approval Date

11/14/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Precision Engineered Ceramics,, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

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

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. Precision Engineered Ceramics, needed a loan. Prosperity Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Prosperity Bank made the loan. The end result was that Precision Engineered Ceramics, 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 SBA loan database.

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