DECLARE @name VARCHAR(50) -- database name
DECLARE @path VARCHAR(256) -- path for backup files
DECLARE @fileName VARCHAR(256) -- filename for backup
DECLARE @fileDate VARCHAR(20) -- used for file name

--specific location
SET @path = 'E:\Backup\Database\'

SELECT @fileDate = CONVERT(VARCHAR(20),GETDATE(),12)

DECLARE db_cursor CURSOR FOR
SELECT name
FROM master.dbo.sysdatabases
WHERE name NOT IN ('model','tempdb')

OPEN db_cursor
FETCH NEXT FROM db_cursor INTO @name

WHILE @@FETCH_STATUS = 0
BEGIN
 --SET @fileName = @path + @fileDate + '-' + @name + '.bak'
 SET @fileName = @path + @name + '.bak'
 BACKUP DATABASE @name TO DISK = @fileName WITH INIT, COMPRESSION

FETCH NEXT FROM db_cursor INTO @name
END

CLOSE db_cursor
DEALLOCATE db_cursor