Business Loans for Commodity Contracts Brokerage

With these business loans for commodity contracts brokerage, the SBA guarantees the lender that the loan will be repaid. This commodity contracts brokerage loan for $50,000 was given to a Texas entrepreneur in 2001.

Getting a small business loan in Laredo, Texas was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Laredo National Bank, operating out of Laredo, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMODITY CONTRACTS BROKERAGE
LAREDO, TX 78045

SBA Loan Lender

THE LAREDO NATIONAL BANK
2211 GUADALUPE ST
LAREDO, TX 78043

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

523140 - Commodity Contracts Brokerage

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 20 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Laredo National Bank and they will explain how you can get an SBA loan for your company.

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:

The Art of Bootstrapping

SBA Participating Banks in Laredo, Texas

Getting a Business Loan in Texas