Austin, Texas Entrepreneur Gets a Business Loan

Small business loans in Texas are are few and far betweeen these days. We take a look at one Texas small business loan, provided by a Texas bank, that was approved by the SBA.

Nbc Inventory, Inc., 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 American Bank Of Commerce. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

NBC INVENTORY, INC.
8812 SHOAL CREEK BLVD.
AUSTIN, TX 78757

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561990 - All Other Support Services

Loan Approval Date

6/9/2006

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower, Nbc Inventory, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Nbc Inventory, Inc. did when it applied for and received this $450,000 loan. Remember, if it to be, it is up to me!

About This SBA Loan Information:

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

Related Links:

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Getting an SBA Loan in Texas

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