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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mount Pleasant, Business Loans > Pilgrim Bank Mount Pleasant Business Loans > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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How to Get SBA Loans in Mt Pleasant, Texas
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Motorcycle, ATV, and Personal Watercraft Dealers SBA LoansLooking for SBA loans for motorcycle, atv, and personal watercraft dealers? An SBA loan may be just what you've been looking for. This $60,000 motorcycle, atv, and personal watercraft dealers loan was issued by a Texas bank. Getting a small business loan in Mt Pleasant, Texas was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Pilgrim Bank, operating out of Mount Pleasant, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS SBA Loan Lender PILGRIM BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 11/25/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pilgrim Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Mount Pleasant, Texas
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