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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Temple, Business Loans > Extraco Banks Temple Business Loans > Killeen Dreams Dinners Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Loan to Buy Dream Dinners Franchise Issued By Extraco BanksBorrowing money to buy a Dream Dinners franchise? Extraco Banks has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Dream Dinners franchise shouldn't be too tough. In 2005, Extraco Banks issued an SBA franchise loan to an entrepreneur in Harker Heights, Texas. Because Dream Dinners was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower KILLEEN DREAMS DINNERS SBA Loan Lender EXTRACO BANKS 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 445299 - Specialty Food Stores Loan Approval Date 8/9/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Extraco Banks and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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