Direct Life Insurance Carriers Commercial Loans

With these commercial loans for direct life insurance carriers, the SBA guarantees the lender that the loan will be repaid. This direct life insurance carriers loan for $333,600 was given to a Texas entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with American Bank Of Commerce, out of Wolfforth, Texas. The loan was granted and they received $333,600 to help grow their Austin, Texas business.

SBA Loan Borrower

COMPANY TYPE: DIRECT LIFE INSURANCE CARRIERS
AUSTIN, TX 78745

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524113 - Direct Life Insurance Carriers

Loan Approval Date

5/1/2006

Loan Approval Gross Amount

$333,600

Loan Approval from the SBA

Of the total $333,600 loan amount, the SBA guaranteed $250,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

504 Loans

SBA 7A Banks for Wolfforth, Texas Loans

SBA Participating Banks in Texas