Financing for Construction, Mining, and Forestry Machinery and Equipment Rental and Leasi

With these loans for construction, mining, and forestry machinery and equipment rental and leasi, the SBA guarantees the lender that the loan will be repaid. This construction, mining, and forestry machinery and equipment rental and leasi loan for $335,000 was given to a Texas entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Manor, Texas was able to borrow $335,000 from First State Bank Central Texas. The SBA made the loan possible by guaranteeing $251,250 of this Texas small business loan.

SBA Loan Borrower

FALCON STORAGE
14225 SUNCREST DRIVE
MANOR, TX 78653

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532412 - Construction, Mining, and Forestry Machinery and Equipment Rental and Leasi

Loan Approval Date

1/11/2006

Loan Approval Gross Amount

$335,000

Loan Approval from the SBA

Of the total $335,000 loan amount, the SBA guaranteed $251,250.

More Information on This SBA Loan

The borrower, Falcon Storage, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 82 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 9/29/2006.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Falcon Storage needed a loan. First State Bank Central Texas 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, First State Bank Central Texas made the loan. The end result was that Falcon Storage 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.

Related Links:

Small Business Credit Cards

Where to Get an SBA Loan in Austin, Texas

SBA Texas Banks

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