Abilene, Texas Bank Gives SBA Loan to Hotels And Motels Company

Want to talk with an Abilene, Texas bank about a business loan? Here's one Texas business loan, issued by an Abilene bank, that was approved by the SBA.

Applying for an SBA loan with American State Bank worked out well for our friends at one local company in Brownwood, Texas. They received an SBA loan for $203,392. Great job!

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BROWNWOOD, TX 76801

SBA Loan Lender

AMERICAN STATE BANK
402 CYPRESS ST
ABILENE, TX 79601

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

4/26/2001

Loan Approval Gross Amount

$203,392

Loan Approval from the SBA

Of the total $203,392 loan amount, the SBA guaranteed $152,544.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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