Texas Entrepreneur Secures Financing to Buy Post Net Franchise

Need money to buy a Post Net franchise? Borrego Springs Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Southlake, Texas and are interested in buying a Post Net franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Borrego Springs Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

POSTNET SOUTHLAKE
SOUTHLAKE, TX 76092

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$91,000

Loan Approval from the SBA

Of the total $91,000 loan amount, the SBA guaranteed $77,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Post Net franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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:

PostNet Postal & Business Services

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Small Bank Loans in Borrego Springs, California

California SBA 7A Lenders