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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Smoothie King Loan | ||||
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I Need Commercial Loans to Buy a Franchise in Houston, Texas
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Houston, TX Entrepreneur Gets SBA Loan to Buy Smoothie King health Food Store FranchiseNeed money to buy a Smoothie King health Food Store franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA. Smoothie King health Food Store franchise loans are available to Houston, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Houston, Texas, issued an SBA franchise loan for a Smoothie King health Food Store franchise in 2002. We've got all the details on this Texas small business loan. SBA Loan Borrower SMOOTHIE KING SBA Loan Lender STERLING BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 10/15/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. 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: SBA Participating Banks in Houston, Texas
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