Capital One Gives Business Loan to Lbm, Inc.

Want a Texas bank loan? This Texas entrepreneur got a bank loan, provided by a Virginia bank that works with the SBA to help small business owners.

Getting a small business loan in Austin, Texas was a top priority for Lbm, Inc. back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Texas small business loan.

SBA Loan Borrower

LBM, INC.
1601 W 38TH ST SUITE 12
AUSTIN, TX 78731

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445210 - Meat Markets

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower, Lbm, Inc., 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Lbm, Inc. did when it applied for and received this $50,000 loan. Remember, anyone can do it... so why not you?

About This SBA Loan Information:

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

Related Links:

Small Business Credit Cards

Where to Get an SBA Loan in Mclean, Virginia

SBA Virginia Lenders

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