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| Entrepreneur Resources | Prosperity Bank Lakeway Business Loans | ||||
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Business Loan from Prosperity Bank
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Austin, Texas Business Gets SBA-Guaranteed Funding from Prosperity BankProsperity Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.
Getting a small business loan in Austin, Texas was an essential business goal for Bbq Outfitters, Inc. back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Prosperity Bank, operating out of Lakeway, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower BBQ OUTFITTERS, INC. SBA Loan Lender PROSPERITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453991 - Tobacco Stores Loan Approval Date 4/1/2003 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. More Information on This SBA Loan The borrower, Bbq Outfitters, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees. This loan was paid in full, and was closed out on 1/3/2008. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Bbq Outfitters, Inc. walked into Prosperity Bank 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: Obtaining Funding - Getting Venture Capital SBA 7A Banks in Lakeway, 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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