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| Entrepreneur Resources | Omnibank, National Association Houston Business Loans | ||||
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Raising Money in Austin, Texas With SBA Loans
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Galaxy Cafe Gets a Texas Business LoanBusiness loans in Texas are are few and far betweeen these days. We take a look at one Texas business loan, provided by a Texas bank, that was approved by the SBA.
Getting a small business loan in Austin, Texas was a top priority for Galaxy Cafe back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Omnibank, National Association. Here are the details on this Texas small business loan. SBA Loan Borrower GALAXY CAFE SBA Loan Lender OMNIBANK, NATIONAL ASSOCIATION This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/18/2007 Loan Approval Gross Amount $474,300 Loan Approval from the SBA Of the total $474,300 loan amount, the SBA guaranteed $355,725. More Information on This SBA Loan The borrower, Galaxy Cafe, 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 loan application indicated that the funding would help generate 30 new jobs. Getting an SBA Loan For Your 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Galaxy Cafe 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Houston, 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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