Lubbock, Texas Lender Lends Money to Limited-Service Restaurants Company

Thinking about meeting with a Lubbock, Texas bank about a business loan? Here's one Texas business loan, issued by a Lubbock bank, that was approved by the SBA.

Applying for an SBA loan with Plainscapital Bank worked out well for our friends at one local firm in Lubbock, Texas. The business was able to get an SBA loan for $160,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LUBBOCK, TX 79401

SBA Loan Lender

PLAINSCAPITAL BANK
5010 UNIVERSITY AVE
LUBBOCK, TX 79413

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Plainscapital Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

SBA 7A Lenders in Lubbock, Texas

Getting a Business Loan in Texas