Firm Gets a Texas Bank Loan

Small business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Leander, Texas was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Central Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
LEANDER, TX 78641

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

This commercial 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.

NAICS Code

541330 - Engineering Services

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$76,340

Loan Approval from the SBA

Of the total $76,340 loan amount, the SBA guaranteed $64,889.

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 12 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Leander TX, you ought to talk with a local Leander SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Leander businesses.

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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