Loan Census Banking News and Information
January 19, 2021  
 
 
  Business Loan Information  
 

Dadeville, Alabama SBA Banks

 

 
Loan Census SBA Loan Info

Dadeville, Alabama Bank Gives SBA Loan to Electrical And Electronic Repair Shops Company

A Dadeville, Alabama SBA loan can be yours. Learn how a company got a $75,000 business loan from this Alabama bank.

This loan to an entrepreneur is a good example of an SBA loan. First American Bank made the loan and the SBA guaranteed a portion of the loan. Many other Alabama entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS
DADEVILLE, AL 36853

SBA Loan Lender

FIRST AMERICAN BANK
242 N BROADNAX ST
DADEVILLE, AL 36853

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7629 - Electrical and Electronic Repair Shops

NAICS Code

811211 - Consumer Electronics Repair and Maintenance

Loan Approval Date

5/22/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, feel the fear, and do it anyway.

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:

Microlending as a Small Business Funding Source

SBA Approved Banks in Dadeville, Alabama

SBA Alabama Lenders