Business Loan from First Texas Bank Given to A Lender's Equipment Recovery

First Texas Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Austin, Texas was an essential business goal for A Lender's Equipment Recovery back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Texas Bank, operating out of Georgetown, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

A LENDER'S EQUIPMENT RECOVERY
1806 BENCHMARK LOOP
AUSTIN, TX 78728

SBA Loan Lender

FIRST TEXAS BANK
900 S AUSTIN AVE
GEORGETOWN, TX 78626

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561491 - Repossession Services

Loan Approval Date

9/21/2004

Loan Approval Gross Amount

$122,800

Loan Approval from the SBA

Of the total $122,800 loan amount, the SBA guaranteed $104,380.

More Information on This SBA Loan

The borrower, A Lender's Equipment Recovery, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

A Lender's Equipment Recovery got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

The Art of Bootstrapping

Where to Get an SBA Loan in Georgetown, Texas

Texas SBA Bank Lenders

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.