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| Entrepreneur Resources | Compass Bank Birmingham Business Loans | ||||
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Small Business Banks in Texas
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Convenience Stores Business LoansWith these business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $381,000 was given to a Texas entrepreneur in 2001.
Marshall Ford Food Mart received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $381,000 to help grow their Austin, Texas business. SBA Loan Borrower MARSHALL FORD FOOD MART SBA Loan Lender COMPASS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445120 - Convenience Stores Loan Approval Date 8/17/2001 Loan Approval Gross Amount $381,000 Loan Approval from the SBA Of the total $381,000 loan amount, the SBA guaranteed $285,750. More Information on This SBA Loan The borrower, Marshall Ford Food Mart, 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. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Marshall Ford Food Mart walked into Compass Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: SBA Banks in Birmingham, Alabama If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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