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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Store Retailers Loan | ||||
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Tips for Business Owners On Getting a Loan
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Store Retailers Commercial LoansWith these commercial loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $15,000 was given to a Texas entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mesquite, Texas was able to borrow $15,000 from Compass Bank. The SBA made the loan possible by guaranteeing $7,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender COMPASS BANK This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 453998 - Store Retailers Loan Approval Date 2/17/2006 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Microlending as a Small Business Funding Source Find an SBA Lender in Birmingham, Alabama
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