Prosperity Bank SBA Loan to Sporting Goods Stores And Bicycle Shops Company
Prosperity Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.
This growing company knew how to go about getting a business bank loan. Based in Grand Prairie, Texas, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Prosperity Bank, based in Dallas, Texas.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
GRAND PRAIRIE, TX 75051
SBA Loan Lender
3515 W CAMP WISDOM RD
DALLAS, TX 75237
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
5941 - Sporting Goods Stores and Bicycle Shops
451110 - Sporting Goods Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $475,000 loan amount, the SBA guaranteed $356,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Prosperity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Prosperity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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.
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