Business Loan from Compass Bank Given to Machine Tools, Metal Forming Types 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 Granbury, Texas business owner got a $138,500 loan.

Getting a small business loan in Granbury, Texas was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank, operating out of Fort Worth, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOLS, METAL FORMING TYPES
GRANBURY, TX 76048

SBA Loan Lender

COMPASS BANK
8875 HWY 80 WEST
FORT WORTH, TX 76116

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3542 - Machine Tools, Metal Forming Types

NAICS Code

333513 - Machine Tool Manufacturing

Loan Approval Date

4/4/2000

Loan Approval Gross Amount

$138,500

Loan Approval from the SBA

Of the total $138,500 loan amount, the SBA guaranteed $103,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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