Birmingham, Alabama Bank Lends Money to Automotive Body, Paint, And Interior Repair And Maintenance Company in Richwood (corporate Name For R, Texas
Get business loans from a Birmingham, Alabama bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
Compass Bank is a Birmingham, Alabama small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Texas company.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
RICHWOOD (CORPORATE NAME FOR R, TX 77531
SBA Loan Lender
COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
2/28/2001
Loan Approval Gross Amount
$953,000
Loan Approval from the SBA
Of the total $953,000 loan amount, the SBA guaranteed $714,750.
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 37 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 37 existing jobs.
Getting an SBA Loan For Your Business
If you are wondering how to raise money for a business in Richwood (corporate Name For R TX, you ought to talk with a local Richwood (corporate Name For R SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richwood (corporate Name For R businesses.
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.
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