Texas Entrepreneur Secures Financing to Buy Purified Water To Go Franchise

Need money to purchase a Purified Water To Go franchise? Colonial Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mesquite, Texas needed money to invest in a Purified Water To Go franchise back in 2000. Colonial Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

PURIFIED WATER TO GO
MESQUITE, TX 75150

SBA Loan Lender

COLONIAL BANK
1522 GROSS RD
MESQUITE, TX 75149

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

Loan Approval Date

4/20/2000

Loan Approval Gross Amount

$84,200

Loan Approval from the SBA

Of the total $84,200 loan amount, the SBA guaranteed $63,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Purified Water To Go franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Colonial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Purified Water To Go

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