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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Highland Village, Business Loans > United Community Bank Highland Village Business Loans > Industrial Machinery And Equipment Wholesalers Loan | ||||
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Getting a Business Loan in Carrollton, Texas
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Carrollton, Texas Entrepreneur Gets a Bank LoanSmall business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA. You can learn something about getting a small business loan in Carrollton, Texas by studying this loan to a local company, made back in 2002. Banks like United Community Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender UNITED COMMUNITY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 6/4/2002 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 borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Remember, 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network SBA Banks in Highland Village, Texas
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