Sterling Bancshares, Inc. SBA Loan to Amusement And Recreation Industries Company

Sterling Bancshares, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Katy, Texas was able to borrow $1,089,800 from Sterling Bancshares, Inc.. The SBA made the loan possible by guaranteeing $817,350 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
KATY, TX 77450

SBA Loan Lender

STERLING BANCSHARES, INC.
2550 N LOOP WEST
HOUSTON, TX 77092

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

12/4/2006

Loan Approval Gross Amount

$1,089,800

Loan Approval from the SBA

Of the total $1,089,800 loan amount, the SBA guaranteed $817,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Houston, Texas

Texas SBA Banks