Entrepreneur Works With South Houston, Texas Bank to Get an SBA Loan

Find South Houston, Texas banks that specialize in business loans and know how to work with entrepreneurs. 1st Choice Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Deer Park, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from 1st Choice Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DEER PARK, TX 77536

SBA Loan Lender

1ST CHOICE BANK
3100 S SHAVER
SOUTH HOUSTON, TX 77587

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/9/2003

Loan Approval Gross Amount

$110,400

Loan Approval from the SBA

Of the total $110,400 loan amount, the SBA guaranteed $93,840.

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 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Credit Cards

SBA 7A Banks in South Houston, Texas

Texas SBA Banks