Entrepreneur Works With Wolfforth, Texas Bank to Get an SBA Loan

Get small business loans from a Wolfforth, Texas bank that knows how to treat small business owners right! If Rivercity Sportswear can get a loan, there's no reason you can't do it too.

American Bank Of Commerce is a Wolfforth, Texas small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to Rivercity Sportswear a Texas company.

SBA Loan Borrower

RIVERCITY SPORTSWEAR
4917 SOUTH CONGRESS AVENUE
AUSTIN, TX 78745

SBA Loan Lender

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

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

315999 - Other Apparel Accessories and Other Apparel Manufacturing

Loan Approval Date

2/8/2008

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower, Rivercity Sportswear, 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 43 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 28 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Rivercity Sportswear needed a loan. American Bank Of Commerce probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, American Bank Of Commerce made the loan. The end result was that Rivercity Sportswear was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

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

Related Links:

Equity Financing

SBA 7A Banks for Wolfforth, Texas Loans

Texas SBA 7A Banks

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