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| Entrepreneur Resources | First State Bank Central Texas Austin Business Loans | ||||
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Texas SBA Lenders
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Austin, Texas Bank Lends Money to Bush's Chicken in Georgetown, TexasThinking about meeting with an Austin, Texas bank about a small business loan? Here's one Texas business loan, issued by an Austin bank, that was approved by the SBA.
Applying for an SBA loan with First State Bank Central Texas worked out well for our friends at Bush's Chicken in Georgetown, Texas. They got an SBA loan for $123,000. Great job! SBA Loan Borrower BUSH'S CHICKEN SBA Loan Lender FIRST STATE BANK CENTRAL TEXAS This lender issued this bank loan under the SBA's 7A loan, 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/17/2006 Loan Approval Gross Amount $123,000 Loan Approval from the SBA Of the total $123,000 loan amount, the SBA guaranteed $104,550. More Information on This SBA Loan The borrower, Bush's Chicken, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Bush's Chicken needed a loan. First State Bank Central Texas probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank Central Texas made the loan. The end result was that Bush's Chicken was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Microlending as a Small Business Funding Source 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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