Business Loan from Compass Bank Given to Industrial Machinery Manufacturing Company

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

Getting a small business loan in Birmingham, Alabama was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank, operating out of Birmingham, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING
BIRMINGHAM, AL 35243

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333298 - Industrial Machinery Manufacturing

Loan Approval Date

9/19/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Birmingham or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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