Texas Bank Loan Issued to Eating Places Company

Want a Texas business loan? This Texas entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.

This small business, based in Trindad, 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: EATING PLACES
TRINDAD, TX 75163

SBA Loan Lender

FRANKLIN BANK S.S.B.
601 E CEDAR CREEK PKWY
SEVEN POINTS, TX 75143

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/24/2000

Loan Approval Gross Amount

$231,150

Loan Approval from the SBA

Of the total $231,150 loan amount, the SBA guaranteed $173,363.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Franklin Bank S.S.B. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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