 |
 |
May 11, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Texas Business Loan Sources > Beaumont, Business Loans > Texas State Bank Beaumont Business Loans > Durable Goods Wholesalers Loan | ||||
 |
||||
Beaumont, Texas Bank Loan
|
||||
 |
Durable Goods Wholesalers Small Business LoansLooking for small business loans for durable goods wholesalers? Talk to a banker who works with the SBA. This $127,000 durable goods wholesalers loan was issued by a Texas bank. This small firm knew how to go about getting a business bank loan. Based in Beaumont, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Texas State Bank, based in Beaumont, Texas. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS WHOLESALERS SBA Loan Lender TEXAS STATE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421990 - Durable Goods Wholesalers Loan Approval Date 4/16/2002 Loan Approval Gross Amount $127,000 Loan Approval from the SBA Of the total $127,000 loan amount, the SBA guaranteed $107,950. 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Beaumont, Texas
|
|
||
|
||||
|
|
||||