SBA Loan from Guaranty Bond Bank Helps Pharmacies And Drug Stores Company

An SBA loan from Guaranty Bond Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mineola, Texas business owner got a $150,000 loan.

Getting a small business loan in Mineola, Texas was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Guaranty Bond Bank, operating out of Sulphur Springs, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
MINEOLA, TX 75773

SBA Loan Lender

GUARANTY BOND BANK
919 GILMER ST
SULPHUR SPRINGS, TX 75482

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

5/6/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $150,000 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.

Related Links:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Sulphur Springs, Texas

Texas SBA 7A Lenders