Plano, Texas Bank Gives SBA Loan to Homefurnishings Stores Company

Thinking about meeting with a Plano, Texas bank about an SBA loan? Here's one California business loan, issued by a Plano bank, that was approved by the SBA.

Applying for an SBA loan with Beal Bank, D/b/a Beal Bank worked out well for our friends at one local company in Palm Desert, California. The business was able to get an SBA loan for $113,600. Nice!

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
PALM DESERT, CA 92211

SBA Loan Lender

BEAL BANK, D/B/A BEAL BANK
6000 LEGACY DR
PLANO, TX 75024

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$113,600

Loan Approval from the SBA

Of the total $113,600 loan amount, the SBA guaranteed $85,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Palm Desert CA, you ought to talk with a local Palm Desert SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Palm Desert businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? 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.

Related Links:

Understanding Dilution

Small Business Banks in Plano, Texas

Getting an SBA Loan in Texas