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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