Small Business Loans 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 $10,278 was given to a Texas entrepreneur in 2001.

Getting a small business loan in Idalou, Texas was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Security Bank, operating out of Idalou, Texas. Here are the details on 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. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

5/31/2001

Loan Approval Gross Amount

$10,278

Loan Approval from the SBA

Of the total $10,278 loan amount, the SBA guaranteed $8,736.

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 16 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Idalou, Texas

Getting a Business Loan in Texas