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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Pharr, Business Loans > Lone Star National Bank Pharr Business Loans > Child Day Care Services Loan | ||||
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Mcallen SBA Loans
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Texas Small Business Loan Issued to Child Day Care Services CompanyTexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan. This small business, based in Mcallen, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Lone Star National Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender LONE STAR NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 1/17/2002 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $13,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lone Star National Bank and they will explain how you can get an SBA loan for your company. 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: The Friends and Family Network SBA Approved Banks in Pharr, Texas
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