Tyler, Texas Business Gets SBA-Guaranteed Funding from Austin Bank Texas

Austin Bank Texas has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

Getting a small business loan in Tyler, Texas was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Austin Bank Texas, operating out of Longview, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
TYLER, TX 75701

SBA Loan Lender

AUSTIN BANK TEXAS
308 E LOOP
LONGVIEW, TX 75605

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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/24/2000

Loan Approval Gross Amount

$57,600

Loan Approval from the SBA

Of the total $57,600 loan amount, the SBA guaranteed $46,080.

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 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Austin Bank Texas and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

How to Raise Money

Good Banks for Small Business in Longview, Texas

Texas SBA Banks