Texas State Bank Provides SBA Loan to Buy La Paletera Franchise

Borrowing money to purchase a La Paletera franchise? Texas State Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Missouri City, Texas needed money to invest in a La Paletera franchise back in 2006. Texas State Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

SREE VENTURE INC
MISSOURI CITY, TX 77459

SBA Loan Lender

TEXAS STATE BANK
3900 N 10TH ST
MCALLEN, TX 78501

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/2/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a La Paletera franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the funding would help create 3 new jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Texas State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

La Paletera Franchise Systems, Inc.

Obtaining Funding - Friends and Family

SBA 7A Banks for Mcallen, Texas Loans

Getting an SBA Loan in Texas