Birmingham, Alabama Bank Lends Money to Air-Conditioning And Warm Air Heating Equipment Company in Houston, Texas

Thinking about meeting with a Birmingham, Alabama bank about a business loan? Here's one Texas business loan, issued by a Birmingham bank, that was approved by the SBA.

Applying for an SBA loan with Compass Bank worked out well for our friends at one local company in Houston, Texas. They received an SBA loan for $1,450,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: AIR-CONDITIONING AND WARM AIR HEATING EQUIPMENT
HOUSTON, TX 77040

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333415 - Air-Conditioning and Warm Air Heating Equipment

Loan Approval Date

3/28/2001

Loan Approval Gross Amount

$1,450,000

Loan Approval from the SBA

Of the total $1,450,000 loan amount, the SBA guaranteed $999,992.

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 44 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 44 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Houston or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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