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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > Wells Fargo Bank Austin Business Loans > Machine Tools, Metal Cutting Types Loan | ||||
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Banks Doing SBA Loans in Texas
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Austin, Texas Bank Gives SBA Loan to Machine Tools, Metal Cutting Types CompanyWant to talk with an Austin, Texas bank about a business loan? Here's one Texas business loan, issued by an Austin bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local business in Lacy-Lakeview, Texas. The business was able to get an SBA loan for $661,500. Great job! SBA Loan Borrower COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3541 - Machine Tools, Metal Cutting Types NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 3/22/2000 Loan Approval Gross Amount $661,500 Loan Approval from the SBA Of the total $661,500 loan amount, the SBA guaranteed $496,125. More Information on This SBA Loan The borrower borrowed this money for a new 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 8 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 8 existing jobs. 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. 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: Best Austin, Texas Banks for Small Business
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