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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Retail Stores Loan | ||||
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Alabama Bank SBA Loans
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Compass Bank SBA Loan to Retail Stores CompanyWant an Alabama business loan? Here's one Alabama business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Homewood, Alabama was able to borrow $155,000 from Compass Bank. The SBA made the loan possible by guaranteeing $116,250 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender COMPASS BANK This loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a thorough understanding of SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 2/22/2000 Loan Approval Gross Amount $155,000 Loan Approval from the SBA Of the total $155,000 loan amount, the SBA guaranteed $116,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $155,000. How would you spend $155,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Role of Business Plan When Raising Money SBA Participating Banks in Birmingham, Alabama
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