Getting an SBA Loan for Office Administrative Services

Looking for commercial loans for office administrative services? An SBA loan may be just what you've been looking for. This $1,697,000 office administrative services loan was issued by an Alabama bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $1,697,000 from Compass Bank. The SBA made the loan possible by guaranteeing $1,272,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE ADMINISTRATIVE SERVICES
HOUSTON, TX 77098

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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

561110 - Office Administrative Services

Loan Approval Date

9/8/2004

Loan Approval Gross Amount

$1,697,000

Loan Approval from the SBA

Of the total $1,697,000 loan amount, the SBA guaranteed $1,272,750.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Compass Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Birmingham, Alabama

Where to Get an SBA Loan Alabama