Texas Entrepreneur Secures Financing to Buy Music Go Round Franchise

Borrowing money to invest in a Music Go Round franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

Music Go Round franchise loans are available to Houston, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Washington Mutual Bank, based in Henderson, Nevada, issued an SBA franchise loan for a Music Go Round franchise in 2000. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MUSIC GO ROUND
HOUSTON, TX 77096

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

8/25/2000

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Music Go Round franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

This SBA loan was for $160,000. How would you spend $160,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Music Go Round

Borrowing Money from Friends and Family

Small Bank Loans in Henderson, Nevada

Where to Get an SBA Loan Nevada