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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > University Fcu Austin Business Loans > Retail Stores Loan | ||||
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Texas SBA Lenders
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Entrepreneur Works With Austin, Texas Bank to Get an SBA LoanGet to know Austin, Texas banks that specialize in small business loans and know how to work with entrepreneurs. University Fcu is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from University Fcu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender UNIVERSITY FCU The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453920 - Art Dealers Loan Approval Date 6/16/2006 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. 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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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: SBA Participating Banks in Austin, Texas
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