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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Broadway National Bank San Antonio Business Loans > Insurance Agents And Brokers Loan | ||||
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I Need Commercial Loans in San Marcos, Texas
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Business Loans for Insurance Agencies and BrokeragesLooking for business loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $135,000 insurance agencies and brokerages loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Marcos, Texas was able to borrow $135,000 from Broadway National Bank. The SBA made the loan possible by guaranteeing $101,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender BROADWAY NATIONAL BANK This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6411 - Insurance Agents and Brokers NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 2/2/2001 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $101,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $135,000 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: Best San Antonio, Texas Banks for Small Business
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