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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Grand Prairie, Business Loans > Grand Bank Of Texas Grand Prairie Business Loans > Tax Preparation Services Loan | ||||
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I Need a Business Loan in Arlington, Texas
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How to Get a Loan for Tax Preparation ServicesWith these commercial loans for tax preparation services, the SBA guarantees the lender that the loan will be repaid. This tax preparation services loan for $130,000 was given to a Texas entrepreneur in 2002. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Grand Bank Of Texas, out of Grand Prairie, Texas. The loan was granted and they received $130,000 to help grow their Arlington, Texas business. SBA Loan Borrower COMPANY TYPE: TAX PREPARATION SERVICES SBA Loan Lender GRAND BANK OF TEXAS This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541213 - Tax Preparation Services Loan Approval Date 2/13/2002 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Grand Bank Of Texas and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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