Getting an SBA Loan for General Merchandise Stores

Looking for SBA loans for general merchandise stores? An SBA loan may be just what you've been looking for. This $325,000 general merchandise stores loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pharr, Texas was able to borrow $325,000 from Border Cap. Bank. The SBA made the loan possible by guaranteeing $243,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
PHARR, TX 78577

SBA Loan Lender

BORDER CAP. BANK
1801 S MCCOLL RD
MCALLEN, TX 78503

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

7/9/2004

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 29 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $325,000 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:

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SBA 7A Banks in Mcallen, Texas

Getting a Business Loan in Texas