Grand Prairie, Texas Entrepreneur Gets an SBA Loan

Bank loans in Texas are hard to find these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

This small business, based in Grand Prairie, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Grand Bank Of Texas. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GRAND PRAIRIE, TX 75051

SBA Loan Lender

GRAND BANK OF TEXAS
530 S CARRIER PKWY
GRAND PRAIRIE, TX 75051

This SBA bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/11/2002

Loan Approval Gross Amount

$1,356,000

Loan Approval from the SBA

Of the total $1,356,000 loan amount, the SBA guaranteed $989,880.

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 40 employees. This SBA loan request did not indicate that the SBA funding recipient planned 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?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 Grand Bank Of Texas 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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Grand Prairie, Texas

SBA Participating Banks in Texas