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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Electronic Parts And Equipment Merchant Wholesalers Loan | ||||
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Good Banks for Madison Heights Business Owners
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Financing for Electronic Parts and Equipment Merchant WholesalersLooking for loans for electronic parts and equipment merchant wholesalers? An SBA loan may be just what you've been looking for. This $216,000 electronic parts and equipment merchant wholesalers loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Madison Heights, Michigan was able to borrow $216,000 from Small Business Loan Source LLC. The SBA made the loan possible by guaranteeing $162,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423690 - Electronic Parts and Equipment Merchant Wholesalers Loan Approval Date 1/10/2003 Loan Approval Gross Amount $216,000 Loan Approval from the SBA Of the total $216,000 loan amount, the SBA guaranteed $162,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Small Business Loan Source LLC and they will explain how you can get an SBA loan for your company. 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 Best Banks for Small Business in Houston, Texas
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