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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Laredo, Business Loans > International Bank Of Commerce Laredo Business Loans > Liberty Tax Service Loan | ||||
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Banks for Mcallen, Texas Small Businesses
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Texas Entrepreneur Secures Financing to Buy Liberty Tax Service FranchiseBorrowing money to purchase a Liberty Tax Service franchise? International Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mcallen, Texas needed money to invest in a Liberty Tax Service franchise back in 2005. International Bank Of Commerce issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower LIBERTY TAX SERVICE SBA Loan Lender INTERNATIONAL BANK OF COMMERCE This lender issued this particular 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 541213 - Tax Preparation Services Loan Approval Date 1/24/2005 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $38,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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 International Bank Of Commerce 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: SBA Approved Banks in Laredo, Texas
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