Compass Bank Gives Business Loan to Car Washes Company

Would a Texas small business loan help your small business to grow and prosper? If so, you may want to talk with this Alabama bank, which offers SBA loans to Texas entrepreneurs.

Getting a small business loan in San Antonio, Texas was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SAN ANTONIO, TX 78258

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

811192 - Car Washes

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$551,000

Loan Approval from the SBA

Of the total $551,000 loan amount, the SBA guaranteed $413,250.

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 loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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