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May 1, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Lessors Of Residential Buildingsv And Dwellings Loan | ||||
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Colorado Small Business Funding
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Commercial Loans for Lessors of Residential Buildingsv and DwellingsLooking for commercial loans for lessors of residential buildingsv and dwellings? An SBA loan may be just what you've been looking for. This $30,000 lessors of residential buildingsv and dwellings loan was issued by an Alabama bank. This business knew how to go about getting a business bank loan. Based in Parker, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Compass Bank, based in Birmingham, Alabama. SBA Loan Borrower COMPANY TYPE: LESSORS OF RESIDENTIAL BUILDINGSV AND DWELLINGS SBA Loan Lender COMPASS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 531110 - Lessors of Residential Buildingsv and Dwellings Loan Approval Date 6/15/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Birmingham, Alabama
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