Borrowing Money for Periodical Publishers

With these small business loans for periodical publishers, the SBA guarantees the lender that the loan will be repaid. This periodical publishers loan for $85,000 was given to a Texas entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Corsicana, Texas was able to borrow $85,000 from Ennis State Bank. The SBA made the loan possible by guaranteeing $72,250 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PERIODICAL PUBLISHERS
CORSICANA, TX 75151

SBA Loan Lender

ENNIS STATE BANK
815 W ENNIS AVE
ENNIS, TX 75119

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

511120 - Periodical Publishers

Loan Approval Date

8/31/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 7 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $85,000 loan. Remember, you control your own destiny.

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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