First State Bank Central Texas SBA Loan to Access System

First State Bank Central Texas and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, Texas was able to borrow $150,000 from First State Bank Central Texas. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan.

SBA Loan Borrower

ACCESS SYSTEM
2850 COUNTY ROAD 104
GEORGETOWN, TX 78626

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors, N.E.C.-Base Hsing Maint

NAICS Code

238990 - All Other Specialty Trade Contractors

Loan Approval Date

1/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Access System, 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 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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