Commercial Loans for Sound Recording Studios

Looking for commercial loans for sound recording studios? Talk to a banker who works with the SBA. This $150,000 sound recording studios loan was issued by a Texas bank.

This small business knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Prosperity Bank, based in Austin, Texas.

SBA Loan Borrower

COMPANY TYPE: RADIOTELEPHONE COMMUNICATIONS
AUSTIN, TX 78704

SBA Loan Lender

PROSPERITY BANK
900 CONGRESS AVE
AUSTIN, TX 78701

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4812 - Radiotelephone Communications

NAICS Code

512240 - Sound Recording Studios

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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

If you need money to start business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Prosperity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Prosperity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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