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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 > Insurance Agents And Brokers Loan | ||||
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Alabama Small Business Funding
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Bank Loans for Insurance Agencies and BrokeragesLooking for bank loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $660,000 insurance agencies and brokerages loan was issued by an Alabama bank. Getting a small business loan in Birmingham, Alabama was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Commercial Bank, operating out of Birmingham, Alabama. Here are the details on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender FIRST COMMERCIAL BANK This business loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6411 - Insurance Agents and Brokers NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 5/11/2000 Loan Approval Gross Amount $660,000 Loan Approval from the SBA Of the total $660,000 loan amount, the SBA guaranteed $495,000. More Information on This SBA Loan The borrower 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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commercial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Role of Business Plan When Raising Money SBA Banks in Birmingham, Alabama
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