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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dimmitt, Business Loans > First United Bank Dimmitt Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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SBA Lenders in Texas
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Loans for Durable Goods Merchant WholesalersWith these loans for durable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This durable goods merchant wholesalers loan for $75,000 was given to a Texas entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amarillo, Texas was able to borrow $75,000 from First United Bank. The SBA made the loan possible by guaranteeing $63,750 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender FIRST UNITED BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . 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. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 6/29/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Accountant's Role in Securing Financing Small Business Banks in Dimmitt, Texas
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