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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Highland Village, Business Loans > United Community Bank Highland Village Business Loans > X-Treme Body Works Inc Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Dallas, TX Entrepreneur Gets SBA Loan to Buy Curves For Women FranchiseBorrowing money to purchase a Curves For Women franchise? United Community Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Dallas, Texas needed money to invest in a Curves For Women franchise back in 2004. United Community Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower X-TREME BODY WORKS INC SBA Loan Lender UNITED COMMUNITY BANK This lender issued this particular 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. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 8/27/2004 Loan Approval Gross Amount $53,000 Loan Approval from the SBA Of the total $53,000 loan amount, the SBA guaranteed $45,050. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $53,000. How would you spend $53,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Where to Get an SBA Loan in Highland Village, Texas
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