Houston, TX Entrepreneur Gets SBA Loan to Buy Once Upon A Child Franchise

Need money to invest in an Once Upon A Child franchise? Omnibank, National Association has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying an Once Upon A Child franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Omnibank, National Association. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ONCE UPON A CHILD
HOUSTON, TX

SBA Loan Lender

OMNIBANK, NATIONAL ASSOCIATION
397 N SAM HOUSTON PKWY EAST
HOUSTON, TX 77060

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

3/20/2000

Loan Approval Gross Amount

$118,000

Loan Approval from the SBA

Of the total $118,000 loan amount, the SBA guaranteed $88,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Once Upon A Child franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Houston TX, you ought to talk with a local Houston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Houston businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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