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May 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Caddo Mills, Business Loans > Citibank Caddo Mills Business Loans > Farm Supplies Loan | ||||
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Citibank SBA 7A Loans
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Business Loans for Farm Supplies WholesalersWith these business loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $200,000 was given to a Texas entrepreneur in 2002. This small business knew how to go about getting a business bank loan. Based in Murphy, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citibank, based in Caddo Mills, Texas. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES SBA Loan Lender CITIBANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank 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. SIC Code 5191 - Farm Supplies NAICS Code 422910 - Farm Supplies Wholesalers Loan Approval Date 12/3/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you have been wondering how do i get money to start a business in Murphy TX, you ought to talk with a local Murphy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Murphy businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citibank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family Find an SBA Lender in Caddo Mills, Texas
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