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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > Plainscapital Bank Lubbock Business Loans > Fresh Fruit And Vegetable Merchant Wholesalers Loan | ||||
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How Do We Get a Business Loan in Lubbock, Texas?
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Raising Money for Fresh Fruit and Vegetable Merchant WholesalersLooking for business loans for fresh fruit and vegetable merchant wholesalers? Try the SBA. This $250,000 fresh fruit and vegetable merchant wholesalers loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lubbock, Texas was able to borrow $250,000 from Plainscapital Bank. The SBA made the loan possible by guaranteeing $125,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: FRESH FRUIT AND VEGETABLE MERCHANT WHOLESALERS SBA Loan Lender PLAINSCAPITAL BANK The lender provided this commercial 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 424480 - Fresh Fruit and Vegetable Merchant Wholesalers Loan Approval Date 8/25/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 35 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 35 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Plainscapital Bank 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: Dealing With Venture Capitalists SBA 7A Banks in Lubbock, Texas
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