Austin, Texas Entrepreneur Gets a Business Loan
Would a Texas business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.
Getting a small business loan in Austin, Texas was a top priority for It Freedom LLC back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Amer Bank. Here are the details on this Texas small business loan.
SBA Loan Borrower
IT FREEDOM LLC
8711 BURNET RD STE E-55
AUSTIN, TX 78757
SBA Loan Lender
AMER BANK
711 N CARANCAHUA
CORPUS CHRISTI, TX 78411
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541519 - Other Computer Related Services
Loan Approval Date
4/10/2006
Loan Approval Gross Amount
$180,000
Loan Approval from the SBA
Of the total $180,000 loan amount, the SBA guaranteed $135,000.
More Information on This SBA Loan
The borrower, It Freedom LLC, 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 19 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 19 existing 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Amer Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's SBA loan database.
Related Links:
Attracting Investors
SBA 7A Banks in Corpus Christi, Texas
Getting a Business Loan in Texas
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