Lewisville, TX Entrepreneur Gets SBA Loan to Buy El Taco Franchise

Need a loan to buy an El Taco franchise? Millennium State Bank Of Texas has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an El Taco franchise is doable. In 2004, Millennium State Bank Of Texas issued an SBA franchise loan to an entrepreneur in Lewisville, Texas. Because El Taco was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

EL TACO TOTE
LEWISVILLE, TX 75067

SBA Loan Lender

MILLENNIUM STATE BANK OF TEXAS
11950 WEBB CHAPEL RD
DALLAS, TX 75234

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/8/2004

Loan Approval Gross Amount

$477,000

Loan Approval from the SBA

Of the total $477,000 loan amount, the SBA guaranteed $357,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an El Taco franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $477,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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