Texas Business Loan Issued to Mortgage And Nonmortgage Loan Brokers Company

SBA loans in Texas are tough to come by these days. We take a look at one Texas SBA loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Richardson, Texas was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Millennium State Bank Of Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
RICHARDSON, TX 75060

SBA Loan Lender

MILLENNIUM STATE BANK OF TEXAS
11950 WEBB CHAPEL RD
DALLAS, TX 75234

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522310 - Mortgage and Nonmortgage Loan Brokers

Loan Approval Date

1/31/2006

Loan Approval Gross Amount

$659,000

Loan Approval from the SBA

Of the total $659,000 loan amount, the SBA guaranteed $494,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 46 employees. This SBA loan request indicated that the loan would help generate 46 new jobs and retain 46 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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