Loan Census Banking News and Information
July 24, 2021  
 
 
  Business Loan Information  
 

Tyler, Texas SBA 7A Banks

 

 
Loan Census SBA Loan Info

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

SOUTHSIDE BANK
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.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

7/7/2004

Loan Approval Gross Amount

$572,500

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.

Related Links:

Accountant's Role in Securing Financing

SBA 7A Banks for Tyler, Texas Loans

Getting an SBA Loan in Texas