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May 16, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Richardson, Business Loans > First Bank Of Canyon Creek Richardson Business Loans > Men's And Boys' Clothing And Accessory Stores Loan | ||||
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How to Get an SBA Loan in Richardson, Texas
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Growing Company Gets a Texas Business LoanTexasBank loans are available to Texas firms through the SBA. In this case, a Texas bank provides the loan. By giving the right information to First Bank Of Canyon Creek, this Richardson, Texas business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES SBA Loan Lender FIRST BANK OF CANYON CREEK This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5611 - Men's and Boys' Clothing and Accessory Stores NAICS Code 448110 - Men's Clothing Stores Loan Approval Date 3/12/2001 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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 First Bank Of Canyon Creek 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: Realistic Debt Financing Options SBA 7A Banks for Richardson, Texas Loans
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