Loan to Buy Rhino Linings Franchise Issued By First United Bank & Trust

Need a loan to invest in a Rhino Linings franchise? First United Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rhino Linings franchise requires some effort but others before you have been successful. In 2005, First United Bank & Trust issued an SBA franchise loan to an entrepreneur in Denton, Texas. Because Rhino Linings was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

RHINO LININGS & TRUCK ACCESRS.
DENTON, TX 76205

SBA Loan Lender

FIRST UNITED BANK & TRUST
1517 CENTRE PL DR
DENTON, TX 76201

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/16/2005

Loan Approval Gross Amount

$272,000

Loan Approval from the SBA

Of the total $272,000 loan amount, the SBA guaranteed $204,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rhino Linings franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $272,000 loan. Remember, feel the fear, and do it anyway.

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:

Rhino Linings

Determining Proper Capital Structure for a Business

Banks in Denton, Texas

Texas SBA Banks