Texas Bank Loan Issued to Limited-Service Restaurants Company

Looking to get a Texas small business loan? This Texas entrepreneur got a small business loan, provided by a Texas bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Miami, Texas by studying this loan to a local company, made back in 2003. Banks like First State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MIAMI, TX 79059

SBA Loan Lender

FIRST STATE BANK
100 S MAIN
MIAMI, TX 79059

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/6/2003

Loan Approval Gross Amount

$54,900

Loan Approval from the SBA

Of the total $54,900 loan amount, the SBA guaranteed $46,665.

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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Choosing VC Firms

Best Banks for Small Business in Miami, Texas

Find an SBA Lender in Texas