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| Entrepreneur Resources | Bank Of America Charlotte Business Loans | ||||
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SBA 7A Banks That Lend to Texas Small Businesses
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Texas SBA Loan Issued to Allies AutomotiveWould a Texas small business loan help your small business to grow and prosper? If so, you may want to talk with this North Carolina bank, which offers SBA loans to Texas entrepreneurs.
Getting a small business loan in Austin, Texas was a top priority for Allies Automotive back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Texas small business loan. SBA Loan Borrower Allies Automotive SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811111 - General Automotive Repair Loan Approval Date 4/13/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower, Allies Automotive, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Allies Automotive did when it applied for and received this $10,000 loan. Remember, you control your own destiny. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Accountant's Role in Securing Financing Banks in Charlotte, North Carolina Getting a Business Loan in North Carolina 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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