Borrowing Money for Farm and Garden Machinery and Equipment Wholesalers

With these small business loans for farm and garden machinery and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm and garden machinery and equipment wholesalers loan for $16,285 was given to a Texas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Idalou, Texas was able to borrow $16,285 from Security Bank. The SBA made the loan possible by guaranteeing $13,842 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT
IDALOU, TX 79329

SBA Loan Lender

SECURITY BANK
302 MAIN ST
IDALOU, TX 79329

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3523 - Farm Machinery and Equipment

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

3/28/2001

Loan Approval Gross Amount

$16,285

Loan Approval from the SBA

Of the total $16,285 loan amount, the SBA guaranteed $13,842.

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 14 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Idalou TX, you ought to talk with a local Idalou SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Idalou businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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