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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > Barber Shops Loan | ||||
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Banks for Entrepreneurs in Texas
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Texas Bank Loan Issued to Barber Shops CompanyTexasSmall 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 Sterling Bank, this Frisco, 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: BARBER SHOPS SBA Loan Lender STERLING BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812111 - Barber Shops Loan Approval Date 12/30/2004 Loan Approval Gross Amount $115,500 Loan Approval from the SBA Of the total $115,500 loan amount, the SBA guaranteed $98,175. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Raising VC Money for Social Networking Companies
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