SBA Loan from Texas State Bank Helps Limited-Service Restaurants Company

An SBA loan from Texas State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mcallen, Texas business owner got a $95,300 loan.

Getting a small business loan in Mcallen, Texas was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Texas State Bank, operating out of Mcallen, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MCALLEN, TX 78501

SBA Loan Lender

TEXAS STATE BANK
3900 N 10TH ST
MCALLEN, TX 78501

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/30/2005

Loan Approval Gross Amount

$95,300

Loan Approval from the SBA

Of the total $95,300 loan amount, the SBA guaranteed $81,005.

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 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Texas State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Texas State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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