Dripping Springs, Texas Entrepreneur Gets a Small Business Loan

Want a Texas bank loan? This Texas entrepreneur got a bank loan, provided by a Texas bank that works with the SBA to help small business owners.

By giving the right information to University Fcu, this Dripping Springs, Texas business was able to get an SBA loan. To get this loan, Magic Greens, LLC (oc) gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

MAGIC GREENS, LLC (OC)
RR 12 SPORTS PARK ROAD
DRIPPING SPRINGS, TX 78620

SBA Loan Lender

UNIVERSITY FCU
3305 STECK AVE
AUSTIN, TX 78757

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - All Other Amusement and Recreation Industries

Loan Approval Date

4/11/2005

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $176,250.

More Information on This SBA Loan

The borrower, Magic Greens, LLC (oc), borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 5/1/2007.

Getting an SBA Loan For Your 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 Magic Greens, LLC (oc) 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:

The Friends and Family Network

Small Business Banks in Austin, Texas

SBA Lenders in 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.