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| Entrepreneur Resources | Prosper Bank Prosper Business Loans | ||||
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Prosper Bank Business Loan Austin, Texas
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Prosper Bank SBA Loan to Fish City GrillProsper Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.
Fish City Grill received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Prosper Bank, out of Prosper, Texas. The loan was granted and they received $545,000 to help grow their Austin, Texas business. SBA Loan Borrower FISH CITY GRILL SBA Loan Lender PROSPER BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/2/2007 Loan Approval Gross Amount $545,000 Loan Approval from the SBA Of the total $545,000 loan amount, the SBA guaranteed $408,750. More Information on This SBA Loan The borrower, Fish City Grill, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 33 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If Fish City Grill 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. Related Links: Who Lends Money to Small Businesses in Prosper, 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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