SBA Loan from Franklin Bank S.S.B. Helps Fine Arts Schools Company

Franklin Bank S.S.B. 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 Mabank, Texas was able to borrow $67,200 from Franklin Bank S.S.B.. The SBA made the loan possible by guaranteeing $57,120 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
MABANK, TX 75147

SBA Loan Lender

FRANKLIN BANK S.S.B.
601 E CEDAR CREEK PKWY
SEVEN POINTS, TX 75143

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611610 - Fine Arts Schools

Loan Approval Date

5/28/2002

Loan Approval Gross Amount

$67,200

Loan Approval from the SBA

Of the total $67,200 loan amount, the SBA guaranteed $57,120.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Mabank TX, you ought to talk with a local Mabank SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mabank businesses.

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 Franklin Bank S.S.B. 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:

Small Business Credit Cards

Where to Get an SBA Loan in Seven Points, Texas

Getting an SBA Loan in Texas