Loan Census Banking News and Information
October 22, 2021  
 
 
  Business Loan Information  
 

Compass Bank Cullman

 

 
Loan Census SBA Loan Info

Business Loan from Compass Bank Given to Home Health Care Services Company

An SBA loan from Compass Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cullman, Alabama business owner got a $823,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cullman, Alabama was able to borrow $823,000 from Compass Bank. The SBA made the loan possible by guaranteeing $617,250 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
CULLMAN, AL 35055

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

10/23/2006

Loan Approval Gross Amount

$823,000

Loan Approval from the SBA

Of the total $823,000 loan amount, the SBA guaranteed $617,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Compass Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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