 |
 |
May 3, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Texas Business Loan Sources > Georgetown, Business Loans > First Texas Bank Georgetown Business Loans > Beauty Salons Loan | ||||
 |
||||
How to Get SBA Loans in Austin, Texas
|
||||
 |
Getting an SBA Loan for Beauty SalonsWith these SBA loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $19,500 was given to a Texas entrepreneur in 2001. This business knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Texas Bank, based in Georgetown, Texas. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FIRST TEXAS BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 10/5/2001 Loan Approval Gross Amount $19,500 Loan Approval from the SBA Of the total $19,500 loan amount, the SBA guaranteed $16,575. 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. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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. Related Links:
|
|
||
|
||||
|
|
||||