Entrepreneur Works With Tyler, Texas Bank to Get an SBA Loan
Thinking about meeting with a Tyler, Texas bank about a business loan? Here's one Texas business loan, issued by a Tyler bank, that was approved by the SBA.
Applying for an SBA loan with Southside Bank worked out well for our friends at one local business in Jacksonville, Texas. The business was able to get an SBA loan for $572,500. Nice!
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
JACKSONVILLE, TX 75766
SBA Loan Lender
1201 S BECKHAM
TYLER, TX 75701
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
445110 - Supermarkets and Grocery Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $572,500 loan amount, the SBA guaranteed $429,375.
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 30 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southside Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
Accountant's Role in Securing Financing
SBA 7A Banks for Tyler, Texas Loans
Getting an SBA Loan in Texas