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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Carpet And Rug Mills Loan | ||||
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How to Get a Small Business Loan from Compass Bank
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San Antonio, Texas Business Gets SBA-Guaranteed Funding from Compass BankCompass Bank has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $1,894,500 to help grow their San Antonio, Texas business. SBA Loan Borrower COMPANY TYPE: CARPET AND RUG MILLS SBA Loan Lender COMPASS BANK 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 314110 - Carpet and Rug Mills Loan Approval Date 6/20/2003 Loan Approval Gross Amount $1,894,500 Loan Approval from the SBA Of the total $1,894,500 loan amount, the SBA guaranteed $999,992. 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 50 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 50 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Business Banks in Birmingham, Alabama SBA Participating Banks in Alabama
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