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| Entrepreneur Resources | American Bank Of Commerce Austin Business Loans | ||||
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American Bank Of Commerce SBA Loans Austin, TX
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Business Loan from American Bank Of Commerce Given to Beglobal IncAmerican Bank Of Commerce and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Austin, Texas was an essential business goal for Beglobal Inc back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce, operating out of Austin, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower BEGLOBAL INC SBA Loan Lender AMERICAN BANK OF COMMERCE This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 8/5/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower, Beglobal Inc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 9/29/2006. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Beglobal Inc did when it applied for and received this $30,000 loan. Remember, where there is a will, there is a way! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Best Banks for Small Business in Austin, Texas Browse All Business Loan Sources for 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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