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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Panhandle, Business Loans > Happy State Bank Panhandle Business Loans > Beauty Salons Loan | ||||
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Amarillo, Texas Bank for SBA Loans
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Happy State Bank Gives Small Business Loan to Beauty Salons CompanyTexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan. This business, based in Amarillo, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Happy State Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender HAPPY STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 2/7/2003 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $26,350. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Happy State Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist Best Panhandle, Texas Banks for Small Business
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