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November 26, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Southwest Bank Fort Worth Business Loans > Hotels And Motels Loan | ||||
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Southwest Bank Business Loans Austin, Texas
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Austin, Texas Business Gets SBA-Guaranteed Funding from Southwest BankSouthwest Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Austin, Texas was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank, operating out of Fort Worth, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender SOUTHWEST BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/22/2000 Loan Approval Gross Amount $1,088,000 Loan Approval from the SBA Of the total $1,088,000 loan amount, the SBA guaranteed $749,958. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Who Lends Money to Small Businesses in Fort Worth, Texas
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