Entrepreneur Works With Denton, Texas Bank to Get an SBA Loan

Want to talk with a Denton, Texas bank about a small business loan? Here's one Texas business loan, issued by a Denton bank, that was approved by the SBA.

Applying for an SBA loan with First United Bank & Trust worked out well for our friends at one local firm in Frisco, Texas. The business was able to get an SBA loan for $74,000. Nice!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FRISCO, TX 75034

SBA Loan Lender

FIRST UNITED BANK & TRUST
416 W UNIVERSITY DR
DENTON, TX 76201

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

722110 - Full-Service Restaurants

Loan Approval Date

12/9/2003

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $62,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 27 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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