Business Loan from Compass Bank Given to Plumbing, Heating, And Air-Conditioning Contractors Company

An SBA loan from Compass Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Houston, Texas business owner got a $624,300 loan.

Getting a small business loan in Houston, Texas was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank, operating out of Birmingham, Alabama. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS
Houston, TX 77081

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

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

11/23/2005

Loan Approval Gross Amount

$624,300

Loan Approval from the SBA

Of the total $624,300 loan amount, the SBA guaranteed $468,225.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Houston TX, you ought to talk with a local Houston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Houston businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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