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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Tyler, Business Loans > Southside Bank Tyler Business Loans > Art Dealers Loan | ||||
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How to Get SBA Loans in Tyler, Texas
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Bank Loans for Art DealersLooking for bank loans for art dealers? Try the SBA. This $130,000 art dealers loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tyler, Texas was able to borrow $130,000 from Southside Bank. The SBA made the loan possible by guaranteeing $110,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: ART DEALERS SBA Loan Lender SOUTHSIDE BANK 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 453920 - Art Dealers Loan Approval Date 3/26/2004 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 4 employees. The SBA loan documents did not indicate that the company planned 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 loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $130,000 loan. Remember, feel the fear, and do it anyway. 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: Find an SBA Lender in Tyler, Texas
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