Austin Bank Texas Gives Bank Loan to Child Day Care Services Company

Looking to get a Texas business loan? This Texas entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.

This business, based in Rusk, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Austin Bank Texas. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
RUSK, TX 75785

SBA Loan Lender

AUSTIN BANK TEXAS
200 E COMMERCE ST
JACKSONVILLE, TX 75766

This lender issued this particular commercial loan 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.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/26/2000

Loan Approval Gross Amount

$46,800

Loan Approval from the SBA

Of the total $46,800 loan amount, the SBA guaranteed $37,440.

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 5 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $46,800 loan. Remember, fight for what you want, and it will be yours!

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:

Getting a Small Business Loan

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Texas SBA 7A Lenders