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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > American Bank Of Commerce Austin Business Loans > Lawyers Loan | ||||
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American Bank Of Commerce Business Loans
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Lawyers Small Business LoansWith these small business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $100,000 was given to a Texas entrepreneur in 2002. Getting a small business loan in Austin, Texas was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce, operating out of Austin, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender AMERICAN BANK OF COMMERCE 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. NAICS Code 541110 - Lawyers Loan Approval Date 12/6/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Obtaining Funding - How to Borrow Money Who Lends Money to Small Businesses in Austin, Texas
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