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May 4, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Scientific And Technical Consulting Services Loan | ||||
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SBA Lender Arizona
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Scottsdale, Arizona Business Gets SBA-Guaranteed Funding from Compass BankAn SBA loan from Compass Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Scottsdale, Arizona business owner got a $25,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $25,000 to help grow their Scottsdale, Arizona business. SBA Loan Borrower COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES SBA Loan Lender COMPASS BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 541690 - Scientific and Technical Consulting Services Loan Approval Date 1/4/2008 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Compass Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Compass Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money SBA 7A Lenders in Birmingham, Alabama Where to Get an SBA Loan Alabama
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