Company Gets a Texas SBA Loan

TexasSBA loans are available to Texas entrepreneurs through the SBA. In this case, a Texas bank provides the loan.

This company, based in Sunnyvale, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Franklin Bank S.S.B.. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
SUNNYVALE, TX 75182

SBA Loan Lender

FRANKLIN BANK S.S.B.
2807 S TEXAS AVE
BRYAN, TX 77802

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

7261 - Funeral Service and Crematories

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

12/15/2000

Loan Approval Gross Amount

$1,461,000

Loan Approval from the SBA

Of the total $1,461,000 loan amount, the SBA guaranteed $749,990.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,461,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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