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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Longview, Business Loans > Austin Bank Texas Longview Business Loans > Lessors Of Miniwarehouses And Self-Storage Units Loan | ||||
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Raising Money in Lone Oak, Texas With SBA Loans
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Lessors of Miniwarehouses and Self-Storage Units Commercial LoansWith these commercial loans for lessors of miniwarehouses and self-storage units, the SBA guarantees the lender that the loan will be repaid. This lessors of miniwarehouses and self-storage units loan for $143,100 was given to a Texas entrepreneur in 2001. This business knew how to go about getting a business bank loan. Based in Lone Oak, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Austin Bank Texas, based in Longview, Texas. SBA Loan Borrower COMPANY TYPE: LESSORS OF MINIWAREHOUSES AND SELF-STORAGE UNITS SBA Loan Lender AUSTIN BANK TEXAS This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires 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 531130 - Lessors of Miniwarehouses and Self-Storage Units Loan Approval Date 11/23/2001 Loan Approval Gross Amount $143,100 Loan Approval from the SBA Of the total $143,100 loan amount, the SBA guaranteed $121,635. 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. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you have been wondering how do i get money to start a business in Lone Oak TX, you ought to talk with a local Lone Oak SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lone Oak 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:
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