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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Montgomery, Business Loans > Regions Bank Montgomery Business Loans > Taylor Braedon Corp/must Be He Loan | ||||
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I Need a Small Business Loan to Buy a Franchise in College Stateion, Texas
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College Stateion, TX Entrepreneur Gets SBA Loan to Buy Must Be Heaven FranchiseBorrowing money to invest in a Must Be Heaven franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in College Stateion, Texas needed money to invest in a Must Be Heaven franchise back in 2002. Regions Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower TAYLOR BRAEDON CORP/MUST BE HE SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/22/2002 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 Must Be Heaven franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, you 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding From a Venture Capitalist SBA 7A Banks in Montgomery, Alabama
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