Austin, Texas Business Gets SBA-Guaranteed Funding from Plainscapital Bank

An SBA loan from Plainscapital Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Austin, Texas business owner got a $750,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $750,000 from Plainscapital Bank. The SBA made the loan possible by guaranteeing $562,500 of this Texas small business loan.

SBA Loan Borrower

TEXAS REDWOOD,INC
3300 GONZALES STREET
AUSTIN, TX 78702

SBA Loan Lender

PLAINSCAPITAL BANK
400 SUNDANCE PKWY
ROUND ROCK, TX 78681

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

4/12/2007

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower, Texas Redwood,Inc, 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 38 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 36 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to Texas Redwood,Inc to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

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

Related Links:

Obtaining Funding - How to Borrow Money

Banks in Round Rock, Texas

Where to Get an SBA Loan Texas

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