Gilmer National Bank SBA Loan to Nondurable Goods Company

Searching for a Texas SBA loan? Here's one Texas business loan that was approved by the SBA.

This small business needed an SBA business loan in Gilmer, Texas back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Gilmer National Bank, operating out of Gilmer, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
GILMER, TX 75644

SBA Loan Lender

GILMER NATIONAL BANK
900 N WOOD ST
GILMER, TX 75644

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.

SIC Code

5199 - Nondurable Goods

Loan Approval Date

3/3/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gilmer National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gilmer National Bank 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:

Angel Investors

SBA Participating Banks in Gilmer, Texas

Texas SBA 7A Lenders