Wolfforth, Texas Lender Lends Money to Texfx Inc

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

Applying for an SBA loan with American Bank Of Commerce worked out well for our friends at Texfx Inc in Austin, Texas. The business was able to get an SBA loan for $25,000. Great job!

SBA Loan Borrower

TEXFX INC
1801 N. LAMAR BLVD.SUITE B
AUSTIN, TX 78701

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541430 - Graphic Design Services

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower, Texfx 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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If Texfx Inc can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

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

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