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May 2, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Water And Sewer Line And Related Structures Construction Loan | ||||
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Thornton, Colorado Bank Loan
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Business Loans for Water and Sewer Line and Related Structures ConstructionLooking for business loans for water and sewer line and related structures construction? An SBA loan may be just what you've been looking for. This $150,000 water and sewer line and related structures construction loan was issued by an Alabama bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Thornton, Colorado was able to borrow $150,000 from Compass Bank. The SBA made the loan possible by guaranteeing $127,500 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: WATER AND SEWER LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender COMPASS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237110 - Water and Sewer Line and Related Structures Construction Loan Approval Date 4/18/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 generate 3 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: The Friends and Family Network Best Banks in Birmingham, Alabama
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