Bank Loans for Nondurable Goods Merchant Wholesalers

Looking for bank loans for nondurable goods merchant wholesalers? The SBA may be the answer. This $650,000 nondurable goods merchant wholesalers loan was issued by a Texas bank.

This small firm knew how to go about getting a business bank loan. Based in Texarkana, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bancorpsouth Bank, based in Texarkana, Texas.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES
TEXARKANA, TX 75503

SBA Loan Lender

BANCORPSOUTH BANK
3000 NEW BOSTON RD
TEXARKANA, TX 75501

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 business 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

5087 - Service Establishment Equipment and Supplies

NAICS Code

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

6/3/2003

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 27 employees. The loan application 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!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bancorpsouth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

Small Bank Loans in Texarkana, Texas

Getting a Business Loan in Texas