Compass Bank Gives Business Loan to Motor Vehicle Dealers Company

SBA loans in Alabama are hard to find these days. We take a look at one Alabama SBA loan, provided by an Alabama bank, that was approved by the SBA.

Getting a small business loan in Birmingham, Alabama was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
BIRMINGHAM, AL 35244

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This commercial loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

10/10/2000

Loan Approval Gross Amount

$264,000

Loan Approval from the SBA

Of the total $264,000 loan amount, the SBA guaranteed $198,000.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Birmingham AL, you ought to talk with a local Birmingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Birmingham businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

Related Links:

The Friends and Family Network

Best Birmingham, Alabama Banks for Small Business

SBA Participating Banks in Alabama