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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 > Transportation Equipment And Supplies Wholesalers Loan | ||||
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Raising Money in Tyler, Texas With SBA Loans
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Southside Bank Gives Small Business Loan to Transportation Equipment And Supplies Wholesalers CompanyBusiness loans in Texas are tough to come by these days. We take a look at one Texas business loan, provided by a Texas bank, that was approved by the SBA. By giving the right information to Southside Bank, this Tyler, Texas business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender SOUTHSIDE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421860 - Transportation Equipment and Supplies Wholesalers Loan Approval Date 11/19/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 4 employees. The SBA loan documents did not indicate that the business promised 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? If you are raising money in Tyler TX, you ought to talk with a local Tyler SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tyler businesses. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Role of Business Plan When Raising Money SBA Participating Banks in Tyler, Texas
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