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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Fabricated Textile Products Loan | ||||
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Carrollton SBA Loans
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Carrollton, Texas Entrepreneur Gets a Bank LoanTexasBank loans are available to Texas firms through the SBA. In this case, an Alabama bank provides the loan. By giving the right information to Compass Bank, this Carrollton, Texas business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FABRICATED TEXTILE PRODUCTS SBA Loan Lender COMPASS BANK This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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. SIC Code 2399 - Fabricated Textile Products NAICS Code 314999 - Textile Product Mills Loan Approval Date 1/9/2003 Loan Approval Gross Amount $1,208,300 Loan Approval from the SBA Of the total $1,208,300 loan amount, the SBA guaranteed $906,225. 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 140 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $1,208,300. How would you spend $1,208,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Birmingham, Alabama
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