Get an SBA Loan for Baked Goods Stores

With these small business loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $45,000 was given to a Texas entrepreneur in 2005.

Dream Bakery knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was University Fcu, based in Austin, Texas.

SBA Loan Borrower

DREAM BAKERY
9422 ANDERSON MILL ROAD
AUSTIN, TX 78729

SBA Loan Lender

UNIVERSITY FCU
3305 STECK AVE
AUSTIN, TX 78757

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

5/25/2005

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower, Dream Bakery, borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

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

Related Links:

SBIR Funding

Find an SBA Lender in Austin, Texas

Getting an SBA Loan in Texas

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