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May 8, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Bedford, Business Loans > First National Bank - Mid-Cities Bedford Business Loans > General Merchandise Stores Loan | ||||
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SBA Loan from First National Bank - Mid-Cities
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First National Bank - Mid-Cities SBA Loan to General Merchandise Stores CompanyFirst National Bank - Mid-Cities is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Carrollton, Texas was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Mid-Cities, operating out of Bedford, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender FIRST NATIONAL BANK - MID-CITIES SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5399 - General Merchandise Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 12/16/2002 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $225,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Bank Loans in Bedford, Texas
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