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December 19, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Richardson, Business Loans > Bank - Texas Richardson Business Loans > Employment Agencies Loan | ||||
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Bank - Texas Small Business Loan
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Borrowing Money for Temporary Help ServicesWith these small business loans for temporary help services, the SBA guarantees the lender that the loan will be repaid. This temporary help services loan for $100,000 was given to a Texas entrepreneur in 2001. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank - Texas, out of Richardson, Texas. The loan was granted and they received $100,000 to help grow their Dallas, Texas business. SBA Loan Borrower COMPANY TYPE: EMPLOYMENT AGENCIES SBA Loan Lender BANK - TEXAS The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank 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 7361 - Employment Agencies NAICS Code 561320 - Temporary Help Services Loan Approval Date 7/16/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. 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 Bank - 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: SBA Approved Banks in Richardson, Texas Where to Get an SBA Loan Texas
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