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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Rusk, Business Loans > Austin Bank Texas Rusk Business Loans > Great American Cookie Company Loan | ||||
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Business Loans for Rusk Businesses
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Rusk, TX Entrepreneur Gets SBA Loan to Buy Great American Cookie Company FranchiseNeed money to invest in a Great American Cookie Company franchise? Austin Bank Texas has a history of making these loans and they are guaranteed by the SBA. If you live near Rusk, Texas and are interested in buying a Great American Cookie Company franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Austin Bank Texas. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower GREAT AMERICAN COOKIE COMPANY SBA Loan Lender AUSTIN BANK TEXAS At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries NAICS Code 445291 - Baked Goods Stores Loan Approval Date 11/25/2003 Loan Approval Gross Amount $1,400,000 Loan Approval from the SBA Of the total $1,400,000 loan amount, the SBA guaranteed $999,992. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Great American Cookie Company franchise. At the time of the loan, the company had 80 employees. This SBA loan request indicated that the funding would help generate 80 new jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Rusk, Texas
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