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| Entrepreneur Resources | American Bank Of Commerce Wolfforth Business Loans | ||||
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SBA 7A Banks That Lend to Texas Businesses
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Texas Business Loan Issued to Metalink IncTexas bank loans are available to Texas firms through the SBA. In this case, a Texas bank provides the loan.
Getting a small business loan in Austin, Texas was a top priority for Metalink Inc back in 2006 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce. Here are the details on this Texas small business loan. SBA Loan Borrower METALINK INC SBA Loan Lender AMERICAN BANK OF COMMERCE The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 332323 - Ornamental and Architectural Metal Work Manufacturing Loan Approval Date 12/15/2006 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower, Metalink Inc, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 24 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. 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 Metalink Inc walked into American Bank Of Commerce 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: SBA Participating Banks in Wolfforth, 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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