Austin, Texas Business Gets SBA-Guaranteed Funding from Prosper Bank

Prosper Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Prosper Bank, out of Prosper, Texas. The loan was granted and they received $113,700 to help grow their Austin, Texas business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
AUSTIN, TX 78749

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

This lender provides SBA loan for small businesses 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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$113,700

Loan Approval from the SBA

Of the total $113,700 loan amount, the SBA guaranteed $85,275.

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 3 employees. The loan application indicated that the loan would help generate 30 new jobs and retain 33 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Prosper Bank 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.

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