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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Amusement And Recreation Services Loan | ||||
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Banks Doing SBA Loans in Texas
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Entrepreneur Works With Houston, Texas Bank to Get an SBA LoanGet small business loans from a Houston, Texas bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Small Business Loan Source LLC is a Houston, Texas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Texas company. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 4/26/2005 Loan Approval Gross Amount $980,000 Loan Approval from the SBA Of the total $980,000 loan amount, the SBA guaranteed $735,000. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies SBA 7A Lenders in Houston, Texas Getting a Business Loan in Texas
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