Austin, Texas Bank Lends Money to Quick Draw Manufacturing,Inc in Austin, Texas

Get business loans from an Austin, Texas bank that knows how to treat small business owners right! If Quick Draw Manufacturing,Inc can get a loan, there's no reason you can't do it too.

Prosperity Bank is a Austin, Texas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to Quick Draw Manufacturing,Inc a Texas company.

SBA Loan Borrower

QUICK DRAW MANUFACTURING,INC
4803 COMMERCIAL PARK DRIVE
AUSTIN, TX 78724

SBA Loan Lender

PROSPERITY BANK
900 CONGRESS AVE
AUSTIN, TX 78701

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

811219 - Other Electronic and Precision Equipment Repair and Maintenance

Loan Approval Date

1/30/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Quick Draw Manufacturing,Inc, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Quick Draw Manufacturing,Inc walked into Prosperity Bank 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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Austin, Texas

SBA Lenders in 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.