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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Edna, Business Loans > Prosperity Bank Edna Business Loans > Justus Home Video And Electron Loan | ||||
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SBA Lenders for Edna Business Owners
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Edna, TX Entrepreneur Gets SBA Loan to Buy Radio Shack FranchiseNeed a loan to invest in a Radio Shack franchise? Prosperity Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Edna, Texas needed money to invest in a Radio Shack franchise back in 2000. Prosperity Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower JUSTUS HOME VIDEO AND ELECTRON SBA Loan Lender PROSPERITY BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring 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. SIC Code 5064 - Electrical Appliances, Television and Radio Sets NAICS Code 421620 - Electrical Appliance, Television, and Radio Set Wholesalers Loan Approval Date 3/27/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Radio Shack 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 loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 $60,000 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:
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