Bank Loans for Fine Arts Schools

With these bank loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $61,300 was given to a Texas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $61,300 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $52,105 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
AUSTIN, TX 78765

SBA Loan Lender

WELLS FARGO BANK
6100 BANDERA RD
SAN ANTONIO, TX 78238

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

611610 - Fine Arts Schools

Loan Approval Date

5/28/2003

Loan Approval Gross Amount

$61,300

Loan Approval from the SBA

Of the total $61,300 loan amount, the SBA guaranteed $52,105.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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 Wells Fargo Bank 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:

Small Business Loan

SBA Approved Banks in San Antonio, Texas

Getting a Business Loan in Texas