Texas State Bank Gives Business Loan to Full-Service Restaurants Company

TexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan.

By giving the right information to Texas State Bank, this Edinburg, Texas business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EDINBURG, TX 78539

SBA Loan Lender

TEXAS STATE BANK
3900 N 10TH ST
MCALLEN, TX 78501

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

722110 - Full-Service Restaurants

Loan Approval Date

7/3/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 35 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

If you are working on finding money to start a business in Edinburg TX, you ought to talk with a local Edinburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Edinburg businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Texas State Bank and they will explain how you can get an SBA loan for your company.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Mcallen, Texas

Texas SBA Banks