Prosper, Texas Lender Lends Money to Full-Service Restaurants Company

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

Applying for an SBA loan with Prosper Bank worked out well for our friends at one local business in Plano, Texas. The business was able to get an SBA loan for $269,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PLANO, TX 75075

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/14/2007

Loan Approval Gross Amount

$269,000

Loan Approval from the SBA

Of the total $269,000 loan amount, the SBA guaranteed $201,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request indicated that the borrowed money would help generate 25 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Prosper Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Realistic Debt Financing Options

SBA Participating Banks in Prosper, Texas

Texas SBA 7A Lenders