Small Business Loans for Food Service Contractors

Looking for small business loans for food service contractors? Try the SBA. This $92,000 food service contractors loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First United Bank & Trust, out of Krum, Texas. The loan was granted and they received $92,000 to help grow their Denton, Texas business.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
DENTON, TX 76205

SBA Loan Lender

FIRST UNITED BANK & TRUST
146 W MCCART
KRUM, TX 76249

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

722310 - Food Service Contractors

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $78,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Denton TX, you ought to talk with a local Denton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Denton businesses.

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 First United Bank & Trust 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:

Understanding Dilution

SBA 7A Banks in Krum, Texas

Texas SBA 7A Banks