Plano, Texas Entrepreneur Gets a Business Loan

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

This small business, based in Plano, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Surety Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
PLANO, TX 75093

SBA Loan Lender

SURETY BANK
1501 SUMMIT AVE
FORT WORTH, TX 76102

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan 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.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$575,000

Loan Approval from the SBA

Of the total $575,000 loan amount, the SBA guaranteed $431,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Plano TX, you ought to talk with a local Plano SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plano businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

SBA Approved Banks in Fort Worth, Texas

Find an SBA Lender in Texas