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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 > General Automotive Repair Loan | ||||
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How to Get a Small Business Loan from Austin Bank Texas
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Tyler, Texas Business Gets SBA-Guaranteed Funding from Austin Bank TexasAustin Bank Texas has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Austin Bank Texas, out of Longview, Texas. The loan was granted and they received $100,000 to help grow their Tyler, Texas business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender AUSTIN BANK TEXAS This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 10/9/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 - Getting Venture Capital Find an SBA Lender in Longview, Texas Where to Get an SBA Loan Texas
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