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May 7, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Paso, Business Loans > Bank Of The West El Paso Business Loans > Recyclable Material Merchant Wholesalers Loan | ||||
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El Paso SBA Lenders
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Entrepreneur Works With El Paso, Texas Bank to Get an SBA LoanAn El Paso, Texas small business loan can be yours. Learn how a company got a $150,000 business loan from this Texas bank. This loan to an entrepreneur is a good example of an SBA loan. Bank Of The West made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: RECYCLABLE MATERIAL MERCHANT WHOLESALERS SBA Loan Lender BANK OF THE WEST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423930 - Recyclable Material Merchant Wholesalers Loan Approval Date 10/23/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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