Austin, Texas Bank Lends Money to Agua Frio, LLC in Austin, Texas

An Austin, Texas SBA loan can be yours. Learn how Agua Frio, LLC got a $135,000 business loan from this Texas bank.

This loan to Agua Frio, LLC is a good example of an SBA loan. First State Bank Central Texas made the loan and the SBA guaranteed a portion of the loan. Many other Texas entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

AGUA FRIO, LLC
4704 RIDGE OAK DRIVE
AUSTIN, TX 78731

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312113 - Ice Manufacturing

Loan Approval Date

5/17/2007

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower, Agua Frio, LLC, borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the borrowed money would help generate 3 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

How Equity Dilution Works

SBA Banks in Austin, Texas

Texas SBA 7A Banks

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