Texas Entrepreneur Secures Financing to Buy La Paletera Franchise

Need a loan to invest in a La Paletera franchise? Sundown State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a La Paletera franchise? If so, here's a 2004 SBA franchise loan that you should know about. Sundown State Bank was the lender and the entrepreneur was based in Lubbock, Texas.

SBA Loan Borrower

LA PALETERA
LUBBOCK, TX 79423

SBA Loan Lender

SUNDOWN STATE BANK
501 S SLAUGHTER AVE
SUNDOWN, TX 79372

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a La Paletera franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sundown State Bank and they will explain how you can get an SBA loan for your company.

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:

La Paletera Franchise Systems, Inc.

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Best Banks for Small Business in Sundown, Texas

Getting an SBA Loan in Texas