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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Franklin Bank S.S.B. Houston Business Loans > Eating Places Loan | ||||
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I Need a Small Business Loan in Austin, Texas
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Where to Get Capital for Full-Service RestaurantsWith these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $40,000 was given to a Texas entrepreneur in 2000. This small business knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Franklin Bank S.S.B., based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FRANKLIN BANK S.S.B. This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/30/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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. Related Links: Obtaining Funding - Friends and Family Where to Get an SBA Loan in Houston, Texas
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