Borrow Money to Buy a Music Go Round Franchise

Borrowing money to purchase a Music Go Round franchise? Woodforest National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near The Woodlands, Texas and are interested in buying a Music Go Round franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Woodforest National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MUSIC GO ROUND
THE WOODLANDS, TX 77381

SBA Loan Lender

WOODFOREST NATIONAL BANK
13301 EAST FRWY
HOUSTON, TX 77015

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Music Go Round franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Woodforest National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Music Go Round

Understanding Dilution

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