Where to Get Capital for Lawyers

With these SBA loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $93,300 was given to a Texas entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Round Rock, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Compass Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
ROUND ROCK, TX 78681

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

541110 - Lawyers

Loan Approval Date

9/13/2001

Loan Approval Gross Amount

$93,300

Loan Approval from the SBA

Of the total $93,300 loan amount, the SBA guaranteed $79,305.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Round Rock TX, you ought to talk with a local Round Rock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Round Rock businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Compass Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Compass Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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