Austin, Texas Business Gets SBA-Guaranteed Funding from Franklin Bank S.S.B.

Franklin Bank S.S.B. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Austin, Texas was an essential business goal for Johnny G's Butcher Block, Inc. back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Franklin Bank S.S.B., operating out of Houston, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

JOHNNY G'S BUTCHER BLOCK, INC.
11600 MANCHACA
AUSTIN, TX 78757

SBA Loan Lender

FRANKLIN BANK S.S.B.
9800 RICHMOND AVE, STE 680
HOUSTON, TX 77046

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445210 - Meat Markets

Loan Approval Date

4/2/2002

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

More Information on This SBA Loan

The borrower, Johnny G's Butcher Block, Inc., 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 SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 7/24/2007.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If Johnny G's Butcher Block, Inc. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Understanding Dilution

Best Houston, Texas Banks for Small Business

Getting an SBA Loan in 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.