Loan to Buy Philly Connection Franchise Issued By Sterling Bank

Borrowing money to purchase a Philly Connection franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

Philly Connection franchise loans are available to Houston, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Houston, Texas, issued an SBA franchise loan for a Philly Connection franchise in 2003. We've got all the details on this Texas small business loan.

SBA Loan Borrower

PHILLY CONNECTION
HOUSTON, TX 77071

SBA Loan Lender

STERLING BANK
13300 ALMEDA RD
HOUSTON, TX 77045

This lender issued this particular SBA 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

722110 - Full-Service Restaurants

Loan Approval Date

4/18/2003

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Philly Connection franchise. At the time of the loan, the company had 19 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Houston TX, you ought to talk with a local Houston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Houston businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sterling Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Loan

Banks in Houston, Texas

SBA Lenders in Texas