Borrow Money to Buy a H & R Block Franchise

Need a loan to invest in a H & R Block franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Port Lavaca, Texas needed money to invest in a H & R Block franchise back in 2001. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

H & R BLOCK
PORT LAVACA, TX 77979

SBA Loan Lender

WELLS FARGO BANK
16414 SAN PEDRO, STE 1000
SAN ANTONIO, TX 78232

This lender issued this bank loan under the SBA's 7A loan, 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.

SIC Code

7291 - Tax Return Preparation Services

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

8/15/2001

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a H & R Block franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

H&R Block

Business Line of Credit

Best Banks for Small Business in San Antonio, Texas

SBA Texas Banks