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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 > Physicians Loan | ||||
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What Does It Take to Get a Business Loan in Desoto, Texas?
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Getting an SBA Loan for PhysiciansWith these commercial loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $672,000 was given to a Texas entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Desoto, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Compass Bank, based in Birmingham, Alabama. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender COMPASS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 5/22/2006 Loan Approval Gross Amount $672,000 Loan Approval from the SBA Of the total $672,000 loan amount, the SBA guaranteed $504,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $672,000. How would you spend $672,000 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: A Company That Helps Entrepreneurs SBA 7A Lenders in Birmingham, Alabama
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