Bank Loans for Drugs and Druggists' Sundries Wholesalers

With these bank loans for drugs and druggists' sundries wholesalers, the SBA guarantees the lender that the loan will be repaid. This drugs and druggists' sundries wholesalers loan for $75,000 was given to a Texas entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coppell, Texas was able to borrow $75,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $60,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRUGS, DRUG PROPRIETARIES, AND DRUGGISTS' SUNDRIES
COPPELL, TX 76019

SBA Loan Lender

WACHOVIA BANK
150 WESTPARK WAY, STE 130
EULESS, TX 76039

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5122 - Drugs, Drug Proprietaries, and Druggists' Sundries

NAICS Code

422210 - Drugs and Druggists' Sundries Wholesalers

Loan Approval Date

2/7/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wachovia Bank and they will explain how you can get an SBA loan for your company.

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.

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