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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > American State Bank Lubbock Business Loans > Independent Artists, Writers, And Performers Loan | ||||
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American State Bank Business Loans
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SBA Loans for Independent Artists, Writers, and PerformersLooking for SBA loans for independent artists, writers, and performers? An SBA loan may be just what you've been looking for. This $55,000 independent artists, writers, and performers loan was issued by a Texas bank. Getting a small business loan in Lubbock, Texas was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American State Bank, operating out of Lubbock, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS SBA Loan Lender AMERICAN STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring 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 711510 - Independent Artists, Writers, and Performers Loan Approval Date 12/4/2003 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Decide How Much to Raise Best Lubbock, Texas Banks for Small Business
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