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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Jacksonville, Business Loans > Austin Bank Texas Jacksonville Business Loans > Beauty Shops Loan | ||||
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Austin Bank Texas Kilgore, Texas
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Kilgore, Texas Business Gets SBA-Guaranteed Funding from Austin Bank TexasAustin Bank Texas and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Kilgore, Texas was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Austin Bank Texas, operating out of Jacksonville, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender AUSTIN BANK TEXAS This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 10/17/2000 Loan Approval Gross Amount $83,100 Loan Approval from the SBA Of the total $83,100 loan amount, the SBA guaranteed $66,480. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Where to Get an SBA Loan in Jacksonville, Texas
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