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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > Lubbock National Bank Lubbock Business Loans > Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Loan | ||||
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I Need a Business Loan in Lubbock, Texas
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Raising Money for Medical, Dental, and Hospital Equipment and Supplies Merchant WholesalersLooking for business loans for medical, dental, and hospital equipment and supplies merchant wholesalers? Try the SBA. This $125,000 medical, dental, and hospital equipment and supplies merchant wholesalers loan was issued by a Texas bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Lubbock National Bank, out of Lubbock, Texas. The loan was granted and they received $125,000 to help grow their Lubbock, Texas business. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender LUBBOCK NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers Loan Approval Date 11/8/2007 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Lubbock, Texas Banks for Small Business
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