Texas Entrepreneur Secures Financing to Buy Frozen Ropes Northshore Franchise

Need money to buy a Frozen Ropes Northshore franchise? Prosper Bank has a history of making these loans and they are guaranteed by the SBA.

Frozen Ropes Northshore franchise loans are available to Mckinney, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Prosper Bank, based in Prosper, Texas, issued an SBA franchise loan for a Frozen Ropes Northshore franchise in 2006. We've got all the details on this Texas small business loan.

SBA Loan Borrower

FROZEN ROPES OF NORTH DALLAS
MCKINNEY, TX 75071

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/27/2006

Loan Approval Gross Amount

$1,280,500

Loan Approval from the SBA

Of the total $1,280,500 loan amount, the SBA guaranteed $960,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Frozen Ropes Northshore franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Frozen Ropes Training Centers

Business Credit Evaluation

Banks in Prosper, Texas

Texas SBA 7A Banks