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| Entrepreneur Resources | American Bank Of Commerce Austin Business Loans | ||||
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How to Get SBA Money in Austin, Texas
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Austin, Texas Entrepreneur Gets an SBA LoanTexas bank loans are available to Texas firms through the SBA. In this case, a Texas bank provides the loan.
Silicon Services Consortium, based in Austin, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from American Bank Of Commerce. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower SILICON SERVICES CONSORTIUM SBA Loan Lender AMERICAN BANK OF COMMERCE The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3559 - Special Industry Machinery, N.E.C. NAICS Code 333295 - Semiconductor Machinery Manufacturing Loan Approval Date 3/24/2006 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower, Silicon Services Consortium, 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 17 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 9/29/2006. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Bank Of Commerce that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Realistic Debt Financing Options Where to Get an SBA Loan in Austin, 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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