Compass Bank Provides SBA Loan to Buy Buffalo's cafe Franchise

Borrowing money to purchase a Buffalo's cafe franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Pelham, Alabama needed money to invest in a Buffalo's cafe franchise back in 2000. Compass Bank issued an SBA franchise loan. Here are the details on this Alabama small business loan.

SBA Loan Borrower

BUFFALO'S OF ALABAMA, L.L.C.
PELHAM, AL 35125

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This loan for a small business was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/7/2000

Loan Approval Gross Amount

$289,000

Loan Approval from the SBA

Of the total $289,000 loan amount, the SBA guaranteed $216,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Buffalo's cafe franchise. At the time of the loan, the company had 80 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Compass Bank and they will explain how you can get an SBA loan for your company.

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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