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| Entrepreneur Resources | Southwest Bank Fort Worth Business Loans | ||||
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SBA 7A Banks for Austin, Texas Entrepreneurs
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Southwest Bank Gives SBA Loan to The New World Bakery, Inc.Bank loans in Texas are are few and far betweeen these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.
The New World Bakery, Inc., based in Austin, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Southwest Bank. We've got the inside scoop on this Texas small business loan. SBA Loan Borrower THE NEW WORLD BAKERY, INC. SBA Loan Lender SOUTHWEST BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2051 - Bread & Other Bakery Products, Except Cookies & Cr NAICS Code 311812 - Commercial Bakeries Loan Approval Date 9/3/2002 Loan Approval Gross Amount $830,000 Loan Approval from the SBA Of the total $830,000 loan amount, the SBA guaranteed $622,500. More Information on This SBA Loan The borrower, The New World Bakery, 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 28 employees. This SBA loan request did not indicate that the company 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 8/27/2007. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southwest Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: SBA 7A Banks for Fort Worth, Texas Loans Where to Get an SBA Loan Texas 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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