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| Entrepreneur Resources | American Bank Of Commerce Wolfforth Business Loans | ||||
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Texas Bank SBA Loans
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Wolfforth, Texas Lender Lends Money to Five Star Produce IncGet to know Wolfforth, Texas banks that specialize in business loans and know how to work with entrepreneurs. American Bank Of Commerce is one such bank, as evidenced by this SBA loan to Five Star Produce Inc.
Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, Five Star Produce Inc received funding from American Bank Of Commerce Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower FIVE STAR PRODUCE INC SBA Loan Lender AMERICAN BANK OF COMMERCE The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 422480 - Fresh Fruit and Vegetable Wholesalers Loan Approval Date 9/17/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower, Five Star Produce Inc, 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 49 employees. This SBA loan request indicated that the loan would help generate 33 new jobs and retain 16 existing jobs. This loan was paid in full, and was closed out on 11/23/2004. Next Steps for Getting an SBA Loan 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan to Five Star Produce Inc shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: 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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