Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Compass Bank Hartselle

 

 
Loan Census SBA Loan Info

SBA Loan from Compass Bank Helps Electrical Contractors And Wiring Installation Contractors 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 Hartselle, Alabama business owner got a $14,800 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hartselle, Alabama was able to borrow $14,800 from Compass Bank. The SBA made the loan possible by guaranteeing $7,400 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
HARTSELLE, AL 35640

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

5/23/2006

Loan Approval Gross Amount

$14,800

Loan Approval from the SBA

Of the total $14,800 loan amount, the SBA guaranteed $7,400.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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