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April 19, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Industrial Supplies Merchant Wholesalers Loan | ||||
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Raising Money in Houston, Texas With SBA Loans
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Industrial Supplies Merchant Wholesalers LoansLooking for loans for industrial supplies merchant wholesalers? The SBA may be the answer. This $615,000 industrial supplies merchant wholesalers loan was issued by an Alabama bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Houston, Texas was able to borrow $615,000 from Compass Bank. The SBA made the loan possible by guaranteeing $461,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender COMPASS BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423840 - Industrial Supplies Merchant Wholesalers Loan Approval Date 11/19/2003 Loan Approval Gross Amount $615,000 Loan Approval from the SBA Of the total $615,000 loan amount, the SBA guaranteed $461,250. 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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your 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. 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: Find an SBA Lender in Birmingham, Alabama
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