Business Loan from American Bank Of Commerce Given to Professional, Scientific, And Technical Services Company

American Bank Of Commerce 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 knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was American Bank Of Commerce, based in Wolfforth, Texas.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
AUSTIN, TX 78744

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

11/3/2006

Loan Approval Gross Amount

$1,025,000

Loan Approval from the SBA

Of the total $1,025,000 loan amount, the SBA guaranteed $768,750.

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 20 employees. This SBA loan request indicated that the loan would help retain 50 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,025,000 loan. Remember, if it to be, it is up to me!

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:

Financing Your Business

SBA 7A Banks for Wolfforth, Texas Loans

Getting an SBA Loan in Texas