Loan to Buy Sears Catalog Store Franchise Issued By First National Bank

Borrowing money to buy a Sears Catalog Store franchise? First National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bastrop, Texas needed money to invest in a Sears Catalog Store franchise back in 2005. First National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

SEARS
BASTROP, TX 78602

SBA Loan Lender

FIRST NATIONAL BANK
489 HWY 71 WEST
BASTROP, TX 78602

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

454113 - Mail-Order Houses

Loan Approval Date

6/20/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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. This company did everything right to get a $150,000 loan. It's not easy, but 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 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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