Loan Census Banking News and Information
November 29, 2020  
 
 
  Business Loan Information  
 

Giddings, Texas Bank for SBA Loans

 

 
Loan Census SBA Loan Info

Getting an SBA Loan for Manufacturing

Looking for commercial loans for manufacturing? Talk to a banker who works with the SBA. This $880,000 manufacturing loan was issued by an Alabama bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $880,000 to help grow their Giddings, Texas business.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
GIDDINGS, TX 78942

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

NAICS Code

339999 - Manufacturing

Loan Approval Date

8/4/2000

Loan Approval Gross Amount

$880,000

Loan Approval from the SBA

Of the total $880,000 loan amount, the SBA guaranteed $660,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 47 employees. The SBA loan documents indicated that the loan would help retain 47 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Birmingham, Alabama

SBA Alabama Lenders