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November 16, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Golf Courses And Country Clubs Loan | ||||
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Cedar Hill Business Loan from Compass Bank
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Business Loan from Compass Bank Given to Golf Courses And Country Clubs CompanyAn SBA loan from Compass Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cedar Hill, Texas business owner got a $574,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Hill, Texas was able to borrow $574,000 from Compass Bank. The SBA made the loan possible by guaranteeing $430,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GOLF COURSES AND COUNTRY CLUBS SBA Loan Lender COMPASS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713910 - Golf Courses and Country Clubs Loan Approval Date 1/25/2002 Loan Approval Gross Amount $574,000 Loan Approval from the SBA Of the total $574,000 loan amount, the SBA guaranteed $430,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Realistic Debt Financing Options Where to Get an SBA Loan in Birmingham, Alabama
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