Mt Vernon, TX Entrepreneur Gets SBA Loan to Buy Quik Internet Of Northeast Texas Franchise

Need a loan to invest in a Quik Internet Of Northeast Texas franchise? Citizens National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mt Vernon, Texas needed money to invest in a Quik Internet Of Northeast Texas franchise back in 2005. Citizens National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

QUIK INTERNET OF NORTH EAST TE
MT VERNON, TX 75457

SBA Loan Lender

CITIZENS NATIONAL BANK
201 W MAIN ST
HENDERSON, TX 75652

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . 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.

NAICS Code

518111 -

Loan Approval Date

6/30/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Quik Internet Of Northeast Texas franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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