Financing for Musical Instrument and Supplies Stores

With these commercial loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $265,600 was given to a Texas entrepreneur in 2005.

Austin Strings knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Lehman Brothers Bank, Fsb, based in Wilmington, Delaware.

SBA Loan Borrower

AUSTIN STRINGS
12034 RESEARCH BLVD STE 5
AUSTIN, TX 78759

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

1/12/2005

Loan Approval Gross Amount

$265,600

Loan Approval from the SBA

Of the total $265,600 loan amount, the SBA guaranteed $199,200.

More Information on This SBA Loan

The borrower, Austin Strings, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

If Austin Strings can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

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

Related Links:

Borrowing Money from Friends and Family

SBA 7A Banks for Wilmington, Delaware Loans

Where to Get an SBA Loan Delaware

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