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May 1, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Denton, Business Loans > Compass Bank Denton Business Loans > Eating Places Loan | ||||
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Compass Bank
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Compass Bank SBA Loan to Eating Places CompanyCompass Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Texas entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Compass Bank, out of Denton, Texas. The loan was granted and they received $42,400 to help grow their Denton, Texas business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender COMPASS BANK This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/5/2000 Loan Approval Gross Amount $42,400 Loan Approval from the SBA Of the total $42,400 loan amount, the SBA guaranteed $33,920. 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 12 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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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