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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > Plainscapital Bank Lubbock Business Loans > Ubuildit Loan | ||||
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Tips for Getting a Franchise Loan
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Loan to Buy U Build It Franchise Issued By Plainscapital BankNeed a loan to invest in an U Build It franchise? Plainscapital Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an U Build It franchise may simply require a phone call to a local SBA banker. In 2005, Plainscapital Bank issued an SBA franchise loan to an entrepreneur in Van Alstyne, Texas. Because U Build It was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower UBUILDIT SBA Loan Lender PLAINSCAPITAL BANK 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 236115 - New Single-Family Housing Construction Loan Approval Date 2/9/2005 Loan Approval Gross Amount $134,000 Loan Approval from the SBA Of the total $134,000 loan amount, the SBA guaranteed $113,900. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an U Build It franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Realistic Debt Financing Options Who Lends Money to Small Businesses in Lubbock, Texas
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