How to Get a Loan for Sound Recording Studios

Looking for business loans for sound recording studios? Talk to a banker who works with the SBA. This $75,000 sound recording studios loan was issued by a Texas bank.

The Hit Shack, Inc. received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with American Bank Of Commerce, out of Austin, Texas. The loan was granted and they received $75,000 to help grow their Austin, Texas business.

SBA Loan Borrower

THE HIT SHACK, INC.
1621 SOUTH LAMAR BOULEVARD
AUSTIN, TX 78704

SBA Loan Lender

AMERICAN BANK OF COMMERCE
610 W 5TH ST
AUSTIN, TX 78701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512240 - Sound Recording Studios

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower, The Hit Shack, Inc., 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 2 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 6/22/2004.

Next Steps for Getting an SBA Loan

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 The Hit Shack, 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:

Business Line of Credit

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SBA Texas Banks

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