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May 13, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mcallen, Business Loans > Texas State Bank Mcallen Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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Who Lends Money to Donna Business Owners
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Texas State Bank Gives SBA Loan to Sporting And Recreational Goods And Supplies Merchant Wholesalers CompanyTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. This small business, based in Donna, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Texas State Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender TEXAS STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 6/3/2005 Loan Approval Gross Amount $42,000 Loan Approval from the SBA Of the total $42,000 loan amount, the SBA guaranteed $35,700. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Mcallen, Texas
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