Texas Entrepreneur Secures Financing to Buy Hobbytown Usa Franchise

Need a loan to buy a Hobbytown Usa franchise? First International Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Hobbytown Usa franchise shouldn't be too tough. In 2006, First International Bank issued an SBA franchise loan to an entrepreneur in Weslaco, Texas. Because Hobbytown Usa was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

HOBBY TOWN USA
WESLACO, TX 78596

SBA Loan Lender

FIRST INTERNATIONAL BANK
1912 AVE K, STE 100
PLANO, TX 75074

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$271,700

Loan Approval from the SBA

Of the total $271,700 loan amount, the SBA guaranteed $203,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 10 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First International Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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