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| Entrepreneur Resources | American Bank Of Commerce Austin Business Loans | ||||
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How to Get SBA Loans in Austin, Texas
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Full-Service Restaurants Commercial LoansWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $99,200 was given to a Texas entrepreneur in 2003.
Getting a small business loan in Austin, Texas was important for Gourmet Country Restaurant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce, operating out of Austin, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower GOURMET COUNTRY RESTAURANT SBA Loan Lender AMERICAN BANK OF COMMERCE This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/4/2003 Loan Approval Gross Amount $99,200 Loan Approval from the SBA Of the total $99,200 loan amount, the SBA guaranteed $84,320. More Information on This SBA Loan The borrower, Gourmet Country Restaurant, 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 8 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 9/26/2006. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this Gourmet Country Restaurant loan from American Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Raising VC Money for Social Networking Companies Small Bank Loans in Austin, 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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