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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Plano, Business Loans > Legacytexas Bank Plano Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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Business Loans from Legacytexas Bank
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Dallas, Texas Business Gets SBA-Guaranteed Funding from Legacytexas BankLegacytexas Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Legacytexas Bank, out of Plano, Texas. The loan was granted and they received $186,000 to help grow their Dallas, Texas business. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender LEGACYTEXAS BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine Loan Approval Date 2/11/2000 Loan Approval Gross Amount $186,000 Loan Approval from the SBA Of the total $186,000 loan amount, the SBA guaranteed $139,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Obtaining Funding - Getting Venture Capital Best Banks for Small Business in Plano, Texas
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