Dallas, TX Entrepreneur Gets SBA Loan to Buy Rockfish Seafood Grill Franchise

Borrowing money to purchase a Rockfish Seafood Grill franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rockfish Seafood Grill franchise? If so, here's a 2000 SBA franchise loan that you should know about. Compass Bank was the lender and the entrepreneur was based in Dallas, Texas.

SBA Loan Borrower

ROCKFISH SEAFOOD GRILL
DALLAS, TX 75206

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

722110 - Full-Service Restaurants

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$496,800

Loan Approval from the SBA

Of the total $496,800 loan amount, the SBA guaranteed $372,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rockfish Seafood Grill franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 59 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Compass Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Alabama SBA 7A Banks