Entrepreneur Works With Austin, Texas Bank to Get an SBA Loan

Get to know Austin, Texas banks that specialize in small business loans and know how to work with entrepreneurs. University Fcu is one such bank, as evidenced by this SBA loan to Authenticity Gallery.

Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, Authenticity Gallery received funding from University Fcu Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

AUTHENTICITY GALLERY
910 NORTH CONGRESS AVENUE
AUSTIN, TX 78701

SBA Loan Lender

UNIVERSITY FCU
3305 STECK AVE
AUSTIN, TX 78757

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Miscellaneous Retail Stores, N.E.C.

NAICS Code

453920 - Art Dealers

Loan Approval Date

6/16/2006

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower, Authenticity Gallery, 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 documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

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:

Investor Turnoffs

SBA Participating Banks in Austin, Texas

Texas SBA 7A Lenders

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.