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November 22, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Veterinary Services Loan | ||||
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Compass Bank
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Mcdonough, Georgia 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 Georgia entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Mcdonough, Georgia, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Compass Bank, based in Birmingham, Alabama. SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES SBA Loan Lender COMPASS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541940 - Veterinary Services Loan Approval Date 11/19/2007 Loan Approval Gross Amount $454,500 Loan Approval from the SBA Of the total $454,500 loan amount, the SBA guaranteed $340,875. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Mcdonough 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. Related Links:
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