Austin, Texas Business Gets SBA-Guaranteed Funding from Omnibank, National Association

An SBA loan from Omnibank, National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Austin, Texas business owner got a $50,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Omnibank, National Association, out of Houston, Texas. The loan was granted and they received $50,000 to help grow their Austin, Texas business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
AUSTIN, TX 78746

SBA Loan Lender

OMNIBANK, NATIONAL ASSOCIATION
4328 OLD SPANISH TRL
HOUSTON, TX 77021

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

2/11/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Omnibank, National Association and they will explain how you can get an SBA loan for your company.

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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