Mckinney, Texas Business Gets SBA-Guaranteed Funding from Millennium State Bank Of Texas

Millennium State Bank Of Texas has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

Getting a small business loan in Mckinney, Texas was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Millennium State Bank Of Texas, operating out of Dallas, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MCKINNEY, TX 75070

SBA Loan Lender

MILLENNIUM STATE BANK OF TEXAS
11950 WEBB CHAPEL RD
DALLAS, TX 75234

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

1/25/2007

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $923,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Millennium State Bank Of Texas so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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