First United Bank Provides SBA Loan to Buy Dinner Station the Franchise

Need money to invest in a Dinner Station the franchise? First United Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Dinner Station the franchise? If so, here's a 2005 SBA franchise loan that you should know about. First United Bank was the lender and the entrepreneur was based in Denton, Texas.

SBA Loan Borrower

THE DINNER STATION CARROLLTON
DENTON, TX 76207

SBA Loan Lender

FIRST UNITED BANK
201 N BROADWAY
DIMMITT, TX 79027

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

6/21/2005

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dinner Station the franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Art of Bootstrapping

Small Bank Loans in Dimmitt, Texas

SBA Participating Banks in Texas