Prosperity Bank Gives Small Business Loan to Homefurnishings Stores Company

TexasBusiness loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in Plano, Texas was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Prosperity Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
PLANO, TX 75075

SBA Loan Lender

PROSPERITY BANK
2415 S WESTMORELAND RD
DALLAS, TX 75211

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$645,500

Loan Approval from the SBA

Of the total $645,500 loan amount, the SBA guaranteed $484,125.

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 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Prosperity 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.

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