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April 26, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Winnie, Business Loans > Texas First Bank-Winnie Winnie Business Loans > Dj's West Loan | ||||
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SBA 7A Banks in Texas
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Borrow Money to Buy an Exxon FranchiseBorrowing money to invest in an Exxon franchise? Texas First Bank-Winnie has a history of making these loans and they are guaranteed by the SBA. Exxon franchise loans are available to Beaumont, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Texas First Bank-Winnie, based in Winnie, Texas, issued an SBA franchise loan for an Exxon franchise in 2002. We've got all the details on this Texas small business loan. SBA Loan Borrower DJ'S WEST SBA Loan Lender TEXAS FIRST BANK-WINNIE This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5541 - Gasoline Service Stations NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 10/3/2002 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Exxon franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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