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May 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Seven Points, Business Loans > Franklin Bank S.S.B. Seven Points Business Loans > Eating Places Loan | ||||
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What Does It Take to Get a Business Loan in Mabank, Texas?
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Full-Service Restaurants Commercial LoansWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $287,075 was given to a Texas entrepreneur in 2001. Getting a small business loan in Mabank, Texas was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Franklin Bank S.S.B., operating out of Seven Points, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FRANKLIN BANK S.S.B. SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/19/2001 Loan Approval Gross Amount $287,075 Loan Approval from the SBA Of the total $287,075 loan amount, the SBA guaranteed $215,306. 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 21 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $287,075 loan. Remember, things become real when you believe you can achieve them! 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: Best Seven Points, Texas Banks for Small Business
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