Business Loans for Jewelry Stores

With these business loans for jewelry stores, the SBA guarantees the lender that the loan will be repaid. This jewelry stores loan for $390,400 was given to a Texas entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of The West, out of El Paso, Texas. The loan was granted and they received $390,400 to help grow their El Paso, Texas business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
EL PASO, TX 79912

SBA Loan Lender

BANK OF THE WEST
500 N MESA ST
EL PASO, TX 79901

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$390,400

Loan Approval from the SBA

Of the total $390,400 loan amount, the SBA guaranteed $292,800.

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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Bank Of The West 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.

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