Austin, Texas Entrepreneur Gets an SBA Loan

Would a Texas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Alabama bank, which offers SBA loans to Texas entrepreneurs.

Getting a small business loan in Austin, Texas was a top priority for Affordable Portable Structures back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

AFFORDABLE PORTABLE STRUCTURES
15324 N. IH 35
AUSTIN, TX 78728

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure quick 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

2452 - Prefabricated Wood Buildings and Components

NAICS Code

235990 - All Other Special Trade Contractors

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $87,000.

More Information on This SBA Loan

The borrower, Affordable Portable Structures, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. This loan was paid in full, and was closed out on 3/6/2006.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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 SBA loan database.

Related Links:

The Art of Bootstrapping

Good Banks for Small Business in Birmingham, Alabama

Alabama SBA 7A Banks

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.