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April 20, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Prefabricated Wood Buildings And Components Loan | ||||
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Getting an SBA 7A Loan in Austin, Texas
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Austin, Texas Entrepreneur Gets an SBA LoanWould a Texas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Alabama bank, which offers SBA loans to Texas entrepreneurs. Getting a small business loan in Austin, Texas was a top priority for this loan applicant back in 2002 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: PREFABRICATED WOOD BUILDINGS AND COMPONENTS SBA Loan Lender COMPASS BANK At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2452 - Prefabricated Wood Buildings and Components NAICS Code 235990 - Special Trade Contractors Loan Approval Date 3/15/2002 Loan Approval Gross Amount $116,000 Loan Approval from the SBA Of the total $116,000 loan amount, the SBA guaranteed $87,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 9 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Birmingham, Alabama
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