Longmont, Colorado 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 Colorado entrepreneur received an SBA loan from them.
This small firm knew how to go about getting a business bank loan. Based in Longmont, Colorado, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Compass Bank, based in Birmingham, Alabama.
SBA Loan Borrower
COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES MERCHANT WHOLESALERS
LONGMONT, CO 80504
SBA Loan Lender
COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233
This lender processed this commercial 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.
NAICS Code
424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers
Loan Approval Date
8/22/2005
Loan Approval Gross Amount
$35,000
Loan Approval from the SBA
Of the total $35,000 loan amount, the SBA guaranteed $17,500.
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 24 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 28 existing jobs.
Start the Process for Getting an SBA Loan Today!
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.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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