Landmark Bank Provides SBA Loan to Buy Kumon Math And Reading Center Franchise

Borrowing money to buy a Kumon Math And Reading Center franchise? Landmark Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Kumon Math And Reading Center franchise shouldn't be overly burdensome. In 2005, Landmark Bank issued an SBA franchise loan to an entrepreneur in Denison, Texas. Because Kumon Math And Reading Center was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

KUMON OF SHERMAN
DENISON, TX 75020

SBA Loan Lender

LANDMARK BANK
1616 ARLINGTON
ADA, OK 74820

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611710 - Educational Support Services

Loan Approval Date

4/13/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Kumon Math And Reading Center franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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 business people willing to loan money, 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:

Kumon Math & Reading Centers

Determining Proper Capital Structure for a Business

Who Lends Money to Small Businesses in Ada, Oklahoma

Oklahoma SBA 7A Banks