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April 25, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Birmingham, Business Loans > First Commercial Bank Birmingham Business Loans > Service Establishment Equipment And Supplies Merchant Wholesalers Loan | ||||
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Good Banks for Athens Small Business Owners
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Loans for Service Establishment Equipment and Supplies Merchant WholesalersLooking for loans for service establishment equipment and supplies merchant wholesalers? The SBA may be the answer. This $150,000 service establishment equipment and supplies merchant wholesalers loan was issued by an Alabama bank. This small firm knew how to go about getting a business bank loan. Based in Athens, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Commercial Bank, based in Birmingham, Alabama. SBA Loan Borrower COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender FIRST COMMERCIAL BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423850 - Service Establishment Equipment and Supplies Merchant Wholesalers Loan Approval Date 10/19/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Where to Get an SBA Loan in Birmingham, Alabama
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