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April 28, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Wholesale Trade Agents And Brokers Loan | ||||
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SBA Lender Tucson
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Tucson, 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 Tucson, Arizona business owner got a $15,000 loan. This small firm knew how to go about getting a business bank loan. Based in Tucson, Arizona, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Compass Bank, based in Birmingham, Alabama. SBA Loan Borrower COMPANY TYPE: WHOLESALE TRADE AGENTS AND BROKERS 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 425120 - Wholesale Trade Agents and Brokers Loan Approval Date 8/28/2006 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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:
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