Compass Bank SBA Loan to Automotive Oil Change And Lubrication Shops Company

Compass Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $1,038,700 to help grow their Van Alstyne, Texas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
VAN ALSTYNE, TX 75495

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

4/25/2005

Loan Approval Gross Amount

$1,038,700

Loan Approval from the SBA

Of the total $1,038,700 loan amount, the SBA guaranteed $779,025.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,038,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Alternative Financing

Where to Get an SBA Loan in Birmingham, Alabama

Getting a Business Loan in Alabama