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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 > Home Health Equipment Rental Loan | ||||
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SBA Lender Mineola
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Austin Bank Texas SBA Loan to Home Health Equipment Rental CompanyAustin Bank Texas 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mineola, Texas was able to borrow $141,000 from Austin Bank Texas. The SBA made the loan possible by guaranteeing $119,850 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: HOME HEALTH EQUIPMENT RENTAL SBA Loan Lender AUSTIN BANK TEXAS This was a Low Documentation SBA loan. The SBA launched this program to minimize 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532291 - Home Health Equipment Rental Loan Approval Date 8/21/2001 Loan Approval Gross Amount $141,000 Loan Approval from the SBA Of the total $141,000 loan amount, the SBA guaranteed $119,850. 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 5 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Accountant's Role in Securing Financing Getting a Business Loan in Texas
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