Financing for Nondurable Goods Merchant Wholesalers

Looking for commercial loans for nondurable goods merchant wholesalers? Try the SBA. This $45,000 nondurable goods merchant wholesalers loan was issued by a bank.

Getting a small business loan in San Juan, was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Doral Bank, operating out of Catano, . Here are the details on this small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
SAN JUAN, PR 00911

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

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

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

4/12/2005

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Doral Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

VC Firms on Twitter