SBA Loan from Compass Bank Helps Limited-Service Restaurants Company

Compass Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $450,000 to help grow their Dallas, Texas business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DALLAS, TX 75230

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/19/2007

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in Dallas 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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