Bell County small businesses borrow big

BELL COUNTY – Small business owners invested nearly $13 million in their Bell County businesses during the 2011-2012 fiscal year, according to the Small Business Administration (SBA). Bell tied for sixth in number of loans generated and was eighth in dollar amount in the SBA’s 72-county Dallas district.

In all, 28 Bell businesses took out SBA-guaranteed loans from October 2011 through September 2012. Bell and Tyler’s Johnson County tied for first among north, central and east Texas counties outside the Dallas metroplex.

The numbers are down from last year’s 35 SBA-backed loans for $13.8 million. Likewise, the Dallas district dropped to $617.7 million from fiscal 2011’s record $882.6 million.

Among the largest SBA-backed loans in Bell County were $1.7 million on an extended stay hotel at 501 E. Central Texas Expy. in Killeen; $1.4 million on an existing hotel at 1415 N. General Bruce Dr. in Temple; and $1.2 million for a new veterinary clinic on SW HK Dodgen Loop in Temple, according to Herbert Austin, director for the SBA Dallas district.

Read more at the Temple Daily Telegram.