Spring, Texas Entrepreneur Gets an SBA Loan

TexasSmall business loans are available to Texas small business owners through the SBA. In this case, a North Carolina bank provides the loan.

Getting a small business loan in Spring, Texas was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: TAX PREPARATION SERVICES
SPRING, TX 77386

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

7/27/2007

Loan Approval Gross Amount

$14,000

Loan Approval from the SBA

Of the total $14,000 loan amount, the SBA guaranteed $7,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Investor Turnoffs

Who Lends Money to Small Businesses in Charlotte, North Carolina

Browse All Business Loan Sources for North Carolina