Loan Census Banking News and Information
November 29, 2020  
 
 
  Business Loan Information  
 

Is It Possible to Borrow Money for a Franchise in Garland, Texas?

 

 
Loan Census SBA Loan Info

Texas Entrepreneur Secures Financing to Buy Children's Lighthouse Franchise

Borrowing money to invest in a Children's Lighthouse franchise? Trustmark National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Children's Lighthouse franchise is doable. In 2007, Trustmark National Bank issued an SBA franchise loan to an entrepreneur in Garland, Texas. Because Children's Lighthouse was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

CHILDREN'S LIGHTHOUSE OF MCCRE
GARLAND, TX 75046

SBA Loan Lender

TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

2/8/2007

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Children's Lighthouse franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $126,000 loan. Remember, things become real when you believe you can achieve them!

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:

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SBA Approved Banks in Jackson, Mississippi

Find an SBA Lender in Mississippi