Hillsboro, Texas Business Gets SBA-Guaranteed Funding from Compass Bank

Compass 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 business knew how to go about getting a business bank loan. Based in Hillsboro, Texas, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Compass Bank, based in Fort Worth, Texas.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
HILLSBORO, TX 76845

SBA Loan Lender

COMPASS BANK
8875 HWY 80 WEST
FORT WORTH, TX 76116

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

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

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

6/19/2000

Loan Approval Gross Amount

$141,600

Loan Approval from the SBA

Of the total $141,600 loan amount, the SBA guaranteed $70,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? 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.

Related Links:

A Company That Helps Entrepreneurs

SBA Participating Banks in Fort Worth, Texas

Getting an SBA Loan in Texas