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April 23, 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 > Philly Connection Loan | ||||
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SBA 7A Banks in Texas
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Texas Entrepreneur Secures Financing to Buy Philly Connection FranchiseBorrowing money to invest in a Philly Connection franchise? United Community Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Irving, Texas needed money to invest in a Philly Connection franchise back in 2003. United Community Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower PHILLY CONNECTION SBA Loan Lender UNITED COMMUNITY BANK 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. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/30/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Advice on Getting a Small Business Loan SBA Banks in Highland Village, Texas
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