Pharr, Texas Bank Lends Money to Child Day Care Services Company in Edinburg, Texas

Get to know Pharr, Texas banks that specialize in business loans and know how to work with entrepreneurs. Lone Star National Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
EDINBURG, TX 78539

SBA Loan Lender

LONE STAR NATIONAL BANK
100 W FERGUSON
PHARR, TX 78577

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

10/21/2002

Loan Approval Gross Amount

$99,000

Loan Approval from the SBA

Of the total $99,000 loan amount, the SBA guaranteed $84,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lone Star National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lone Star National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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