Commercial Loans for Direct Selling Establishments

With these commercial loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $1,090,000 was given to a Texas entrepreneur in 2006.

Getting a small business loan in Midlothian, Texas was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Pacific Cap. Bank, operating out of Santa Barbara, California. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
MIDLOTHIAN, TX 76065

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

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

454390 - Direct Selling Establishments

Loan Approval Date

8/7/2006

Loan Approval Gross Amount

$1,090,000

Loan Approval from the SBA

Of the total $1,090,000 loan amount, the SBA guaranteed $817,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 43 employees. The SBA loan documents indicated that the loan would help retain 43 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,090,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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