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| Entrepreneur Resources | Prosperity Bank Austin Business Loans | ||||
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Austin, Texas Bank for SBA Loans
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Borrowing Money for Offices of LawyersWith these loans for offices of lawyers, the SBA guarantees the lender that the loan will be repaid. This offices of lawyers loan for $30,000 was given to a Texas entrepreneur in 2001.
Getting a small business loan in Austin, Texas was important for Martin J. Thompson, Attorney A back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Prosperity Bank, operating out of Austin, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower MARTIN J. THOMPSON, ATTORNEY A SBA Loan Lender PROSPERITY BANK 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 541110 - Offices of Lawyers Loan Approval Date 5/30/2001 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower, Martin J. Thompson, Attorney A, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Martin J. Thompson, Attorney A walked into Prosperity 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: Realistic Debt Financing Options Best Austin, Texas Banks for Small Business 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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