Midland, TX Entrepreneur Gets SBA Loan to Buy Fastsigns Franchise

Borrowing money to buy a Fastsigns franchise? First National Bank - Monahans has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fastsigns franchise shouldn't be too tough. In 2001, First National Bank - Monahans issued an SBA franchise loan to an entrepreneur in Midland, Texas. Because Fastsigns was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

TWOSKI PARTNERSHIP/FASTSIGNS
MIDLAND, TX 79705

SBA Loan Lender

FIRST NATIONAL BANK - MONAHANS
5312 W WADLEY
MIDLAND, TX 79707

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires 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

339950 - Sign Manufacturing

Loan Approval Date

3/16/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank - Monahans and they will explain how you can get an SBA loan for your company.

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:

FASTSIGNS

Investor Turnoffs

SBA 7A Banks in Midland, Texas

Find an SBA Lender in Texas