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| Entrepreneur Resources | University Fcu Austin Business Loans | ||||
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Tips for Entrepreneurs On Getting a Loan
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Financing for Store RetailersWith these loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $40,000 was given to a Texas entrepreneur in 2006.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $40,000 from University Fcu. The SBA made the loan possible by guaranteeing $34,000 of this Texas small business loan. SBA Loan Borrower AUSTINBIKES SBA Loan Lender UNIVERSITY FCU This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - All Other Miscellaneous Store Retailers (except Tobacco Stores) Loan Approval Date 1/27/2006 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower, Austinbikes, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 11/2/2007. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Austinbikes walked into University Fcu and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! 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 Best Banks for Small Business in Austin, Texas Getting a Business Loan in Texas 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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