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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Philly Connections Loan | ||||
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Sterling Bank Franchise Loans
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Spring, TX Entrepreneur Gets SBA Loan to Buy Philly Connection FranchiseNeed money to invest in 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 Spring, 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 CONNECTIONS SBA Loan Lender STERLING BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/24/2003 Loan Approval Gross Amount $136,500 Loan Approval from the SBA Of the total $136,500 loan amount, the SBA guaranteed $116,025. 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 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sterling 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: Small Business Banks in Houston, Texas
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