Plano, Texas Business Gets SBA-Guaranteed Funding from Commerce Bank

Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

Decorative Doorware knew how to go about getting a business bank loan. Based in Plano, Texas, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Commerce Bank, based in Tulsa, Oklahoma.

SBA Loan Borrower

DECORATIVE DOORWARE
811 EAST PLANO PARKWAY SUITE
PLANO, TX 75074

SBA Loan Lender

COMMERCE BANK
6130 E 81ST ST
TULSA, OK 74137

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423710 - Hardware Merchant Wholesalers

Loan Approval Date

8/11/2006

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

More Information on This SBA Loan

The borrower, Decorative Doorware, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Plano or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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