 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
|
|
||
| Entrepreneur Resources | Compass Bank Birmingham Business Loans | ||||
 |
||||
Who Lends Money to Austin Small Business Owners
|
||||
 |
Austin, Texas Entrepreneur Gets a Bank LoanTexas business loans are available to Texas business owners through the SBA. In this case, an Alabama bank provides the loan.
By giving the right information to Compass Bank, this Austin, Texas business was able to get an SBA loan. To get this loan, Copeland Realty gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COPELAND REALTY SBA Loan Lender COMPASS BANK 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 531390 - Other Activities Related to Real Estate Loan Approval Date 12/15/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower, Copeland Realty, borrowed this money for an existing 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 indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Best Banks for Small Business in Birmingham, Alabama 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.
|
|
||
|
||||
|
|
||||
