College Station, TX Entrepreneur Gets SBA Loan to Buy Golf Etc. Franchise

Borrowing money to invest in a Golf Etc. franchise? Commerce National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Golf Etc. franchise requires some effort but others before you have been successful. In 2004, Commerce National Bank issued an SBA franchise loan to an entrepreneur in College Station, Texas. Because Golf Etc. was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLF ETC. COLLEGE STATION
COLLEGE STATION, TX 77845

SBA Loan Lender

COMMERCE NATIONAL BANK
1221 UNIVERSITY DR EAST
COLLEGE STATION, TX 77840

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

7/15/2004

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golf Etc. franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Golf Etc

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Find an SBA Lender in College Station, Texas

Getting a Business Loan in Texas