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| Entrepreneur Resources | American Bank Of Commerce Wolfforth Business Loans | ||||
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American Bank Of Commerce Business Loan Austin, Texas
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Business Loan from American Bank Of Commerce Given to Pen Tec Assembly LLCAn SBA loan from American Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Austin, Texas business owner got a $150,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $150,000 from American Bank Of Commerce. The SBA made the loan possible by guaranteeing $75,000 of this Texas small business loan. SBA Loan Borrower PEN TEC ASSEMBLY LLC SBA Loan Lender AMERICAN BANK OF COMMERCE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 334412 - Bare Printed Circuit Board Manufacturing Loan Approval Date 8/3/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower, Pen Tec Assembly LLC, 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 14 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 14 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Pen Tec Assembly LLC 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: Best Wolfforth, 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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