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May 6, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > Wells Fargo Bank Austin Business Loans > Amusement And Recreation Industries Loan | ||||
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Who Can Get a Business Loan in Austin, Texas?
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Business Loans for Amusement and Recreation IndustriesWith these business loans for amusement and recreation industries, the SBA guarantees the lender that the loan will be repaid. This amusement and recreation industries loan for $637,000 was given to a Texas entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $637,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $477,750 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES SBA Loan Lender WELLS FARGO BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713990 - Amusement and Recreation Industries Loan Approval Date 8/7/2002 Loan Approval Gross Amount $637,000 Loan Approval from the SBA Of the total $637,000 loan amount, the SBA guaranteed $477,750. 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 2 employees. The loan application indicated that the funding would help create 20 new jobs. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses. 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 Wells Fargo 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: Borrowing Money from Friends and Family Good Banks for Small Business in Austin, Texas
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