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December 19, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Prosperity Bank Houston Business Loans > Eating Places Loan | ||||
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Magnolia, Texas Bank for SBA Loans
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Raising Money for Full-Service RestaurantsLooking for business loans for full-service restaurants? The SBA may be the answer. This $400,000 full-service restaurants loan was issued by a Texas bank. This small business knew how to go about getting a business bank loan. Based in Magnolia, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Prosperity Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PROSPERITY BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/1/2000 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Find an SBA Lender in Houston, Texas
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