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January 21, 2025 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Child Day Care Services Loan | ||||
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SBA Lender Birmingham, Alabama
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Birmingham, Alabama Bank Gives SBA Loan to Child Day Care Services CompanyWant to talk with a Birmingham, Alabama bank about an SBA loan? Here's one Arizona business loan, issued by a Birmingham bank, that was approved by the SBA. Applying for an SBA loan with Compass Bank worked out well for our friends at one local firm in Tucson, Arizona. The business was able to get an SBA loan for $696,000. Great job! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE 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 624410 - Child Day Care Services Loan Approval Date 6/15/2001 Loan Approval Gross Amount $696,000 Loan Approval from the SBA Of the total $696,000 loan amount, the SBA guaranteed $522,000. 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 70 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 70 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: A Company That Helps Entrepreneurs SBA 7A Lenders in Birmingham, Alabama
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