Seabrook, Texas Business Gets SBA-Guaranteed Funding from Amegy Bank

An SBA loan from Amegy Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Seabrook, Texas business owner got a $80,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seabrook, Texas was able to borrow $80,000 from Amegy Bank. The SBA made the loan possible by guaranteeing $68,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: INVESTMENT ADVICE
SEABROOK, TX 77586

SBA Loan Lender

AMEGY BANK
305 E MAIN
LEAGUE CITY, TX 77573

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

523930 - Investment Advice

Loan Approval Date

3/19/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

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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