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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > Industrial Supplies Merchant Wholesalers Loan | ||||
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Memphis, Tennessee Bank Loan
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Get an SBA Loan for Industrial Supplies Merchant WholesalersLooking for loans for industrial supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $250,000 industrial supplies merchant wholesalers loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $250,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $125,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender BANCO POPULAR NORTH AMERICA The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423840 - Industrial Supplies Merchant Wholesalers Loan Approval Date 2/23/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banks in New York City, New York
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