SBA Loan from Prosperity Bank Helps New Era Publishing Inc

Prosperity Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Austin, Texas was an essential business goal for New Era Publishing Inc back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Prosperity Bank, operating out of La Grange, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

NEW ERA PUBLISHING INC
2324 RIDGEPOINT DRIVE
AUSTIN, TX 78754

SBA Loan Lender

PROSPERITY BANK
202 W COLORADO
LA GRANGE, TX 78945

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424990 - Other Miscellaneous Nondurable Goods Merchant Wholesalers

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

More Information on This SBA Loan

The borrower, New Era Publishing Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. This loan was paid in full, and was closed out on 11/2/2005.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like New Era Publishing Inc is able to get a $260,000 loan, why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

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

Related Links:

How Equity Dilution Works

SBA 7A Banks for La Grange, Texas Loans

Getting an SBA Loan in Texas

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