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Plano, Texas Bank Loan
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Hardware Merchant Wholesalers Small Business LoansLooking for small business loans for hardware merchant wholesalers? Try the SBA. This $120,000 hardware merchant wholesalers loan was issued by an Oklahoma bank.
Decorative Doorware knew how to go about getting a business bank loan. Based in Plano, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Commerce Bank, based in Tulsa, Oklahoma. SBA Loan Borrower DECORATIVE DOORWARE SBA Loan Lender COMMERCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423710 - Hardware Merchant Wholesalers Loan Approval Date 8/11/2006 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower, Decorative Doorware, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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. If a firm like Decorative Doorware is able to get a $120,000 loan, 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 SBA loan database. Related Links: Advice on Getting a Small Business Loan SBA Approved Banks in Tulsa, Oklahoma If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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