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| Entrepreneur Resources | Franklin Bank S.S.B. Houston Business Loans | ||||
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Examples of Austin SBA Loans
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General Automotive Repair Commercial LoansWith these commercial loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $89,000 was given to a Texas entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $89,000 from Franklin Bank S.S.B.. The SBA made the loan possible by guaranteeing $75,650 of this Texas small business loan. SBA Loan Borrower NOR-TEK AUTO REPAIR SBA Loan Lender FRANKLIN BANK S.S.B. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/6/2002 Loan Approval Gross Amount $89,000 Loan Approval from the SBA Of the total $89,000 loan amount, the SBA guaranteed $75,650. More Information on This SBA Loan The borrower, Nor-Tek Auto Repair, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan to Nor-Tek Auto Repair shows that any business with ambition and the right qualifications can get an SBA loan. 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 Find an SBA Lender in Houston, 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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