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| Entrepreneur Resources | Fidelity Bank Wichita Falls Business Loans | ||||
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How to Get SBA Money in Austin, Texas
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Hill Country Springs Gets a Texas SBA LoanTexas SBA loans are available to Texas entrepreneurs through the SBA. In this case, a Texas bank provides the loan.
Getting a small business loan in Austin, Texas was a top priority for Hill Country Springs back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fidelity Bank. Here are the details on this Texas small business loan. SBA Loan Borrower HILL COUNTRY SPRINGS SBA Loan Lender FIDELITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - All Other Specialty Food Stores Loan Approval Date 11/21/2002 Loan Approval Gross Amount $1,550,000 Loan Approval from the SBA Of the total $1,550,000 loan amount, the SBA guaranteed $999,750. More Information on This SBA Loan The borrower, Hill Country Springs, borrowed this money for an existing 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 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs. This loan was paid in full, and was closed out on 1/3/2008. Getting an SBA Loan For Your 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: Dealing With Venture Capitalists Best Banks in Wichita Falls, 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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