Burleson, Texas Entrepreneur Gets a Small Business Loan
SBA loans in Texas are tough to come by these days. We take a look at one Texas SBA loan, provided by a Texas bank, that was approved by the SBA.
This business, based in Burleson, 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 Community Bank. We've got the inside scoop on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
BURLESON, TX 76028
SBA Loan Lender
COMMUNITY BANK
201 W ELLISON
BURLESON, TX 76028
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8351 - Child Day Care Services
NAICS Code
624410 - Child Day Care Services
Loan Approval Date
10/9/2002
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 an existing business. This loan was not for a franchise. At the time of the loan, the company
had 24 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.
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.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Business Cash Advances
SBA Participating Banks in Burleson, Texas
Find an SBA Lender in Texas