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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Salt Lake City, Business Loans > Amer Express Centurion Bk Salt Lake City Business Loans > Grocery And Related Products Merchant Wholesalers Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Grocery and Related Products Merchant Wholesalers Small Business LoansLooking for small business loans for grocery and related products merchant wholesalers? The SBA may be the answer. This $20,000 grocery and related products merchant wholesalers loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amarillo, Texas was able to borrow $20,000 from Amer Express Centurion Bk. The SBA made the loan possible by guaranteeing $10,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS SBA Loan Lender AMER EXPRESS CENTURION BK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 424490 - Grocery and Related Products Merchant Wholesalers Loan Approval Date 5/27/2004 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Amer Express Centurion Bk that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Participating Banks in Salt Lake City, Utah
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