Austin Bank Texas Gives Bank Loan to Business Services Company

Small business loans in Texas are hard to find these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA.

This company, based in Lindale, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Austin Bank Texas. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
LINDALE, TX 75771

SBA Loan Lender

AUSTIN BANK TEXAS
5515 OLD BULLARD RD
TYLER, TX 75703

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

7389 - Business Services

NAICS Code

111421 - Nursery and Tree Production

Loan Approval Date

12/20/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $28,000.

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

Getting an SBA Loan For Your Business

If you want money for new small business in Lindale TX, you ought to talk with a local Lindale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lindale businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Austin Bank Texas that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Attracting Investors

Best Tyler, Texas Banks for Small Business

Texas SBA 7A Lenders