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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Mcallen, Business Loans > Texas State Bank Mcallen Business Loans > Border Subs Loan | ||||
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Progreso, Texas Bank Loan
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Texas Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Texas State Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2005 SBA franchise loan that you should know about. Texas State Bank was the lender and the entrepreneur was based in Progreso, Texas. SBA Loan Borrower BORDER SUBS SBA Loan Lender TEXAS STATE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/24/2005 Loan Approval Gross Amount $336,500 Loan Approval from the SBA Of the total $336,500 loan amount, the SBA guaranteed $252,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Texas State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Find an SBA Lender in Mcallen, Texas
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