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| Entrepreneur Resources | Southwest Bank Fort Worth Business Loans | ||||
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Banks for Austin, Texas Small Business Owners
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Personal Services LoansLooking for loans for personal services? Talk to a banker who works with the SBA. This $365,000 personal services loan was issued by a Texas bank.
Getting a small business loan in Austin, Texas was important for The Monogram Studio back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank, operating out of Fort Worth, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower THE MONOGRAM STUDIO SBA Loan Lender SOUTHWEST BANK This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - All Other Personal Services Loan Approval Date 3/26/2003 Loan Approval Gross Amount $365,000 Loan Approval from the SBA Of the total $365,000 loan amount, the SBA guaranteed $273,750. More Information on This SBA Loan The borrower, The Monogram Studio, 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. This loan was paid in full, and was closed out on 3/30/2007. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Best Fort Worth, Texas Banks for Small Business 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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