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| Entrepreneur Resources | Southwest Bank Fort Worth Business Loans | ||||
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Austin, Texas Bank for SBA Loans
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Texas Small Business Loan Issued to Lee's Minuteman PressTexas business loans are available to Texas business owners through the SBA. In this case, a Texas bank provides the loan.
Lee's Minuteman Press, based in Austin, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Southwest Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower LEE'S MINUTEMAN PRESS SBA Loan Lender SOUTHWEST BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2752 - Commercial Printing, Lithographic NAICS Code 323110 - Commercial Lithographic Printing Loan Approval Date 3/10/2004 Loan Approval Gross Amount $77,000 Loan Approval from the SBA Of the total $77,000 loan amount, the SBA guaranteed $65,450. More Information on This SBA Loan The borrower, Lee's Minuteman Press, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 12/1/2005. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Lee's Minuteman Press walked into Southwest Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Accountant's Role in Securing Financing Where to Get an SBA Loan in Fort Worth, Texas Getting a Business 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.
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