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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Home Health Care Services Loan | ||||
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Raising Money in Houston, Texas With SBA Loans
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Commercial Loans for Home Health Care ServicesLooking for commercial loans for home health care services? Try the SBA. This $248,000 home health care services loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $248,000 from Sterling Bank. The SBA made the loan possible by guaranteeing $186,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HOME HEALTH CARE SERVICES SBA Loan Lender STERLING BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8082 - Home Health Care Services NAICS Code 621610 - Home Health Care Services Loan Approval Date 10/4/2000 Loan Approval Gross Amount $248,000 Loan Approval from the SBA Of the total $248,000 loan amount, the SBA guaranteed $186,000. 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 80 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sterling Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: SBA Participating Banks in Houston, Texas
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