Borrow Money to Buy a Home Instead Senior Care Franchise

Borrowing money to buy a Home Instead Senior Care franchise? First National Bank - Crockett has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Richardson, Texas needed money to invest in a Home Instead Senior Care franchise back in 2005. First National Bank - Crockett issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

HOME INSTEAD SENIOR CARE
RICHARDSON, TX 75081

SBA Loan Lender

FIRST NATIONAL BANK - CROCKETT
415 E GOLIAD
CROCKETT, TX 75835

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Home Instead Senior Care franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Crockett and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Home Instead Senior Care

Famous Venture Capitalists

Banks in Crockett, Texas

Texas SBA Bank Lenders