Birmingham, Alabama Lender Lends Money to Physicians Company

Find Birmingham, Alabama banks that specialize in small business loans and know how to work with entrepreneurs. Compass Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Compass Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
AUSTIN, TX 78759

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

5/20/2005

Loan Approval Gross Amount

$308,700

Loan Approval from the SBA

Of the total $308,700 loan amount, the SBA guaranteed $231,525.

More Information on This SBA Loan

The borrower 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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $308,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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