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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Burkburnett, Business Loans > Citibank Burkburnett Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Citibank
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SBA Loan from Citibank Helps Insurance Agencies And Brokerages CompanyCitibank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wichita Falls, Texas was able to borrow $130,000 from Citibank. The SBA made the loan possible by guaranteeing $110,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender CITIBANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 8/2/2002 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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Find an SBA Lender in Burkburnett, Texas
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