Austin, Texas Business Gets SBA-Guaranteed Funding from The Frost National Bank

The Frost National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was The Frost National Bank, based in San Antonio, Texas.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
AUSTIN, TX 78704

SBA Loan Lender

THE FROST NATIONAL BANK
100 W HOUSTON ST
SAN ANTONIO, TX 78205

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

Where to Get an SBA Loan in San Antonio, Texas

Texas SBA Banks