Loan to Buy Mega Wraps Franchise Issued By Plainscapital Bank

Need money to purchase a Mega Wraps franchise? Plainscapital Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mega Wraps franchise shouldn't be too tough. In 2004, Plainscapital Bank issued an SBA franchise loan to an entrepreneur in Plano, Texas. Because Mega Wraps was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

MEGA WRAPS
PLANO, TX 75093

SBA Loan Lender

PLAINSCAPITAL BANK
5010 UNIVERSITY AVE
LUBBOCK, TX 79413

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/25/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mega Wraps franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Mega Wraps

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Small Bank Loans in Lubbock, Texas

Texas SBA 7A Lenders