Business Loans for Farm Supplies Wholesalers
With these business loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $200,000 was given to a Texas entrepreneur in 2002.
This small business knew how to go about getting a business bank loan. Based in Murphy, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citibank, based in Caddo Mills, Texas.
SBA Loan Borrower
COMPANY TYPE: FARM SUPPLIES
MURPHY, TX 75094
SBA Loan Lender
CITIBANK
2312 MAIN ST
CADDO MILLS, TX 75135
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5191 - Farm Supplies
NAICS Code
422910 - Farm Supplies Wholesalers
Loan Approval Date
12/3/2002
Loan Approval Gross Amount
$200,000
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $150,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
If you have been wondering how do i get money to start a business in Murphy TX, you ought to talk with a local Murphy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Murphy businesses.
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 Citibank 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:
Borrowing Money from Friends and Family
Find an SBA Lender in Caddo Mills, Texas
Texas SBA Bank Lenders