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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Tyler, Business Loans > Southside Bank Tyler Business Loans > Nondurable Goods Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Commercial Loans for Exam Preparation and TutoringWith these commercial loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $350,000 was given to a Texas entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tyler, Texas was able to borrow $350,000 from Southside Bank. The SBA made the loan possible by guaranteeing $262,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS SBA Loan Lender SOUTHSIDE BANK This commercial 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. SIC Code 5199 - Nondurable Goods NAICS Code 611691 - Exam Preparation and Tutoring Loan Approval Date 5/10/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Lenders in Tyler, Texas
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