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May 8, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Herring Bank Amarillo Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Amarillo Bank Loan
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Amarillo, Texas Lender Lends Money to Sporting Goods Stores And Bicycle Shops CompanyThinking about meeting with an Amarillo, Texas bank about a small business loan? Here's one Texas business loan, issued by an Amarillo bank, that was approved by the SBA. Applying for an SBA loan with Herring Bank worked out well for our friends at one local firm in Amarillo, Texas. The business was able to get an SBA loan for $325,000. Awesome! SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender HERRING BANK 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 American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/11/2000 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Herring 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: SBA Approved Banks in Amarillo, Texas Browse All Business Loan Sources for Texas
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