SBA Loan from Southside Bank Helps Store Retailers Company

Southside Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Tyler, Texas was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Southside Bank, operating out of Tyler, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
TYLER, TX 75707

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

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

453998 - Store Retailers

Loan Approval Date

2/11/2003

Loan Approval Gross Amount

$65,700

Loan Approval from the SBA

Of the total $65,700 loan amount, the SBA guaranteed $55,845.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Southside 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.

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