Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

SBA Lender Fairhope, Alabama

 

 
Loan Census SBA Loan Info

Fairhope, Alabama Lender Lends Money to Sporting Goods Stores And Bicycle Shops Company

Get small business loans from a Fairhope, Alabama bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Colonial Bank is a Fairhope, Alabama small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Alabama company.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
FAIRHOPE, AL 36532

SBA Loan Lender

COLONIAL BANK
387 FAIRHOPE AVE
FAIRHOPE, AL 36532

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

6/6/2002

Loan Approval Gross Amount

$106,000

Loan Approval from the SBA

Of the total $106,000 loan amount, the SBA guaranteed $90,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Colonial Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Accountant's Role in Securing Financing

Banks in Fairhope, Alabama

Find an SBA Lender in Alabama