Austin, Texas Entrepreneur Gets a Small Business Loan

Texas small business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan.

By giving the right information to Jpmorgan Chase Bank, this Austin, Texas business was able to get an SBA loan. To get this loan, Dragon Gate #2 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

DRAGON GATE #2
3901 B SPICEWOOD SPRING ROAD
AUSTIN, TX 78759

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/27/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Dragon Gate #2, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 37 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 25 existing jobs. This loan was paid in full, and was closed out on 2/26/2008.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If Dragon Gate #2 can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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