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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Convenience Stores Loan | ||||
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Compass Bank
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League City, Texas Business Gets SBA-Guaranteed Funding from Compass BankCompass Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in League City, Texas was an essential business goal for this small business back in 2006 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: CONVENIENCE STORES SBA Loan Lender COMPASS BANK This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 445120 - Convenience Stores Loan Approval Date 6/21/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Compass Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Birmingham, Alabama
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