Getting an SBA Loan for Electronic Parts and Equipment Merchant Wholesalers

Looking for commercial loans for electronic parts and equipment merchant wholesalers? Talk to a banker who works with the SBA. This $50,000 electronic parts and equipment merchant wholesalers loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Paso, Texas was able to borrow $50,000 from United Bank - El Paso Del Norte. The SBA made the loan possible by guaranteeing $42,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS
EL PASO, TX 79925

SBA Loan Lender

UNITED BANK - EL PASO DEL NORTE
125 MESA HILLS DR
EL PASO, TX 79912

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423690 - Electronic Parts and Equipment Merchant Wholesalers

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank - El Paso Del Norte had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank - El Paso Del Norte made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Credit Evaluation

Small Business Banks in El Paso, Texas

SBA Texas Lenders