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April 20, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Lemstone Christian Stores Of T Loan | ||||
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The Woodlands, Texas Bank for SBA Loans
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The Woodlands, TX Entrepreneur Gets SBA Loan to Buy Lemstone Books FranchiseNeed a loan to invest in a Lemstone Books franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA. If you live near The Woodlands, Texas and are interested in buying a Lemstone Books franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Compass Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower LEMSTONE CHRISTIAN STORES OF T SBA Loan Lender COMPASS BANK 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 451211 - Book Stores Loan Approval Date 8/22/2001 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Lemstone Books franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Compass Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: A Company That Helps Entrepreneurs SBA 7A Banks in Birmingham, Alabama
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