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November 22, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Full-Service Restaurants Loan | ||||
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Small Business Banks That Lend to Texas Small Business Owners
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Wilshire State Bank Gives SBA Loan to Full-Service Restaurants CompanyTexasBusiness loans are available to Texas business owners through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in Lewisville, Texas by studying this loan to a local business, made back in 2004. Banks like Wilshire State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WILSHIRE STATE 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/30/2004 Loan Approval Gross Amount $370,000 Loan Approval from the SBA Of the total $370,000 loan amount, the SBA guaranteed $277,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan If you need money to start business in Lewisville TX, you ought to talk with a local Lewisville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lewisville 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. Related Links: Obtaining Funding - Friends and Family Small Bank Loans in Los Angeles, California
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