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April 25, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Panama City, Business Loans > Vision Bank Panama City Business Loans > Hobby, Toy, And Game Shops Loan | ||||
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Vision Bank Gulf Shores, Alabama
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Business Loan from Vision Bank Given to Hobby, Toy, And Game Shops CompanyAn SBA loan from Vision Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gulf Shores, Alabama business owner got a $30,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gulf Shores, Alabama was able to borrow $30,000 from Vision Bank. The SBA made the loan possible by guaranteeing $25,500 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender VISION BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5945 - Hobby, Toy, and Game Shops NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 8/8/2002 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Vision Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Best Banks for Small Business in Panama City, Florida
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