Marshall, Texas Bank Lends Money to Shoe Stores Company in Gilmer, Texas

Thinking about meeting with a Marshall, Texas bank about a business loan? Here's one Texas business loan, issued by a Marshall bank, that was approved by the SBA.

Applying for an SBA loan with Bancorpsouth Bank worked out well for our friends at one local business in Gilmer, Texas. The business was able to get an SBA loan for $108,000. Nice!

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
GILMER, TX 75644

SBA Loan Lender

BANCORPSOUTH BANK
501 S WASHINGTON AVE
MARSHALL, TX 75670

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

448210 - Shoe Stores

Loan Approval Date

5/21/2003

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $91,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 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.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Gilmer TX, you ought to talk with a local Gilmer SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gilmer businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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