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April 29, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Power And Communication Line And Related Structures Construction Loan | ||||
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Business Loan from Compass Bank
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Business Loan from Compass Bank Given to Power And Communication Line And Related Structures Construction CompanyCompass Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pensacola, Florida was able to borrow $31,000 from Compass Bank. The SBA made the loan possible by guaranteeing $15,500 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender COMPASS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 237130 - Power and Communication Line and Related Structures Construction Loan Approval Date 10/22/2007 Loan Approval Gross Amount $31,000 Loan Approval from the SBA Of the total $31,000 loan amount, the SBA guaranteed $15,500. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This company got an SBA loan. You can too! Maybe you need seed money for 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: How Much Venture Capital Is There? Best Banks in Birmingham, Alabama Getting an SBA Loan in Alabama
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