Woodforest National Bank SBA Loan to Full-Service Restaurants Company

Woodforest National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

This business knew how to go about getting a business bank loan. Based in Conroe, Texas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Woodforest National Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CONROE, TX 77304

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/29/2005

Loan Approval Gross Amount

$1,815,000

Loan Approval from the SBA

Of the total $1,815,000 loan amount, the SBA guaranteed $907,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help generate 120 new jobs and retain 102 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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.

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