Lakeway, Texas Lender Lends Money to Texas Powersports

Thinking about meeting with a Lakeway, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Lakeway bank, that was approved by the SBA.

Applying for an SBA loan with Prosperity Bank worked out well for our friends at Texas Powersports in Austin, Texas. They received an SBA loan for $500,000. Way to go!

SBA Loan Borrower

TEXAS POWERSPORTS
13220 HWY. 290 WEST
AUSTIN, TX 78737

SBA Loan Lender

PROSPERITY BANK
1415 RANCH RD 620 SOUTH
LAKEWAY, TX 78734

This lender issued this SBA small business loan under the 7A SBA program, 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.

SIC Code

5571 - Motorcycle Dealers

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

11/27/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower, Texas Powersports, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 7/2/2007.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Prosperity Bank 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.

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