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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mcallen, Business Loans > Texas State Bank Mcallen Business Loans > Tax Return Preparation Services Loan | ||||
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Best Banks for Small Business Owners in Texas
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Texas Business Loan Issued to Tax Return Preparation Services CompanyBusiness loans in Texas are tough to come by these days. We take a look at one Texas business loan, provided by a Texas bank, that was approved by the SBA. You can learn something about getting a small business loan in Pharr, Texas by studying this loan to a local business, made back in 2000. Banks like Texas State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: TAX RETURN PREPARATION SERVICES SBA Loan Lender TEXAS STATE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7291 - Tax Return Preparation Services NAICS Code 541213 - Tax Preparation Services Loan Approval Date 5/16/2000 Loan Approval Gross Amount $74,800 Loan Approval from the SBA Of the total $74,800 loan amount, the SBA guaranteed $59,840. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Texas State 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. Related Links: Obtaining Funding - How to Borrow Money
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