Plano, Texas Entrepreneur Gets an SBA Loan

Business 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.

Getting a small business loan in Plano, Texas was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Fidelity Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
PLANO, TX 75023

SBA Loan Lender

FIDELITY BANK
5049 W PARK BLVD
PLANO, TX 75093

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

442299 - Home Furnishings Stores

Loan Approval Date

8/10/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

504 Loans

SBA 7A Banks for Plano, Texas Loans

SBA Lenders in Texas