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May 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Jacksonville, Business Loans > Austin Bank Texas Jacksonville Business Loans > Specialty Food Stores Loan | ||||
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SBA Lenders Texas
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Jacksonville, Texas Bank Gives SBA Loan to Specialty Food Stores CompanyThinking about meeting with a Jacksonville, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Jacksonville bank, that was approved by the SBA. Applying for an SBA loan with Austin Bank Texas worked out well for our friends at one local company in Carthage, Texas. The business was able to get an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender AUSTIN BANK TEXAS This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 3/22/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Jacksonville, Texas
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