Company Gets a Texas Small Business Loan
SBA loans in Texas are are few and far betweeen these days. We take a look at one Texas SBA loan, provided by an Alabama bank, that was approved by the SBA.
By giving the right information to Compass Bank, this Plano, Texas business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: HOME HEALTH CARE SERVICES
Plano, TX 75024
SBA Loan Lender
COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621610 - Home Health Care Services
Loan Approval Date
4/12/2006
Loan Approval Gross Amount
$284,200
Loan Approval from the SBA
Of the total $284,200 loan amount, the SBA guaranteed $142,100.
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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need emergency business money, 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.
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