San Antonio, Texas Business Gets SBA-Guaranteed Funding from Prosper Bank

An SBA loan from Prosper Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Antonio, Texas business owner got a $402,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Antonio, Texas was able to borrow $402,000 from Prosper Bank. The SBA made the loan possible by guaranteeing $301,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAN ANTONIO, TX 78232

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/5/2006

Loan Approval Gross Amount

$402,000

Loan Approval from the SBA

Of the total $402,000 loan amount, the SBA guaranteed $301,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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:

Startup Funding Tip

Small Bank Loans in Prosper, Texas

Texas SBA Banks