Dal-Nor, Texas Business Gets SBA-Guaranteed Funding from Merrill Lynch Bank Usa

An SBA loan from Merrill Lynch Bank Usa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dal-Nor, Texas business owner got a $1,160,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Dal-Nor, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Merrill Lynch Bank Usa, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DAL-NOR, TX 78217

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/20/2000

Loan Approval Gross Amount

$1,160,000

Loan Approval from the SBA

Of the total $1,160,000 loan amount, the SBA guaranteed $749,998.

More Information on This SBA Loan

The borrower 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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merrill Lynch Bank Usa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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