Austin Bank Texas SBA Loan to Communications Services Company

Want a Texas business loan? Here's one Texas business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chandler, Texas was able to borrow $102,600 from Austin Bank Texas. The SBA made the loan possible by guaranteeing $76,950 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMUNICATIONS SERVICES
CHANDLER, TX 75758

SBA Loan Lender

AUSTIN BANK TEXAS
5515 OLD BULLARD RD
TYLER, TX 75703

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.

SIC Code

4899 - Communications Services

Loan Approval Date

9/5/2000

Loan Approval Gross Amount

$102,600

Loan Approval from the SBA

Of the total $102,600 loan amount, the SBA guaranteed $76,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Austin Bank Texas and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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