Growing Company Gets a Texas Business Loan
Want a Texas bank loan? This Texas entrepreneur got a bank loan, provided by a New York bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Allen, Texas by studying this loan to a local company, made back in 2003. Banks like Banco Popular North America may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
ALLEN, TX 75002
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
812990 - Personal Services
Loan Approval Date
5/13/2003
Loan Approval Gross Amount
$61,300
Loan Approval from the SBA
Of the total $61,300 loan amount, the SBA guaranteed $52,105.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular North America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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