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| Entrepreneur Resources | Innovative Bank Oakland Business Loans | ||||
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How to Get Commercial Loans in Austin, Texas
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Austin, Texas Entrepreneur Gets a Bank LoanSearching for a Texas SBA loan? This Texas entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners.
By giving the right information to Innovative Bank, this Austin, Texas business was able to get an SBA loan. To get this loan, M & G Best Associates gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower M & G BEST ASSOCIATES SBA Loan Lender INNOVATIVE 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 SBA 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 541512 - Computer Systems Design Services Loan Approval Date 8/8/2005 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $4,250. More Information on This SBA Loan The borrower, M & G Best Associates, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 7 existing jobs. This loan was paid in full, and was closed out on 7/3/2006. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. M & G Best Associates needed a loan. Innovative Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Innovative Bank made the loan. The end result was that M & G Best Associates was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - Getting Venture Capital Best Banks for Small Business in Oakland, California 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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