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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Prosper, Business Loans > Prosper Bank Prosper Business Loans > Full-Service Restaurants Loan | ||||
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Business Loans for Dallas Small Businesses
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Small Business Loans for Full-Service RestaurantsLooking for small business loans for full-service restaurants? The SBA may be the answer. This $553,000 full-service restaurants loan was issued by a Texas bank. This company knew how to go about getting a business bank loan. Based in Dallas, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Prosper Bank, based in Prosper, Texas. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PROSPER BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/3/2006 Loan Approval Gross Amount $553,000 Loan Approval from the SBA Of the total $553,000 loan amount, the SBA guaranteed $414,750. 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 20 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, 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: Small Business Banks in Prosper, Texas
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