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| Entrepreneur Resources | Capital One Mclean Business Loans | ||||
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Small Business Banks for Austin Business Owners
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Austin Al LLC Gets a Texas Small Business LoanSmall business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Virginia bank, that was approved by the SBA.
Austin Al LLC, based in Austin, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower AUSTIN AL LLC SBA Loan Lender CAPITAL ONE The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 334516 - Analytical Laboratory Instrument Manufacturing Loan Approval Date 3/31/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower, Austin Al LLC, 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 6 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 6 existing jobs. This loan was paid in full, and was closed out on 10/18/2004. Great, But How Can I Get an SBA Loan for My Business? 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: Banking Deregulation's Effects on Entrepreneurship 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.
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