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April 24, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Compass Bank Fort Worth Business Loans > Full-Service Restaurants Loan | ||||
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Banks in Fort Worth, Texas That Make SBA Loans
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Fort Worth, Texas Bank Gives SBA Loan to Full-Service Restaurants CompanyWant to talk with a Fort Worth, Texas bank about a small business loan? Here's one Texas business loan, issued by a Fort Worth bank, that was approved by the SBA. Applying for an SBA loan with Compass Bank worked out well for our friends at one local business in Grand Prairie, Texas. They received an SBA loan for $60,000. Nice! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMPASS BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/4/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are raising money in Grand Prairie TX, you ought to talk with a local Grand Prairie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Prairie businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - How to Decide How Much to Raise Best Banks for Small Business in Fort Worth, Texas
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