Compass Bank SBA Loan to Museums And Art Galleries Company

Looking to get an Alabama business loan? Here's one Alabama business loan that was approved by the SBA.

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 $565,000 to help grow their Mobile, Alabama business.

SBA Loan Borrower

COMPANY TYPE: MUSEUMS AND ART GALLERIES
MOBILE, AL 36693

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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 loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8412 - Museums and Art Galleries

Loan Approval Date

7/7/2000

Loan Approval Gross Amount

$565,000

Loan Approval from the SBA

Of the total $565,000 loan amount, the SBA guaranteed $423,750.

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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $565,000 loan. Remember, you control your own destiny.

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.

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