Compass Bank Gives Bank Loan to Chris's Liquor Store #2

Texas business loans are available to Texas business owners through the SBA. In this case, an Alabama bank provides the loan.

By giving the right information to Compass Bank, this Austin, Texas business was able to get an SBA loan. To get this loan, Chris's Liquor Store #2 gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

CHRIS'S LIQUOR STORE #2
2418 S LAMAR BLVD
AUSTIN, TX 78704

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

5/21/2004

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

More Information on This SBA Loan

The borrower, Chris's Liquor Store #2, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Chris's Liquor Store #2 got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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 SBA loan database.

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