Raising Money for Commercial and Industrial Machinery and Equipment
Looking for bank loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $810,000 commercial and industrial machinery and equipment loan was issued by an Alabama bank.
This company knew how to go about getting a business bank loan. Based in Hueytown, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Compass Bank, based in Birmingham, Alabama.
SBA Loan Borrower
COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
HUEYTOWN, AL 35023
SBA Loan Lender
15 S 20TH ST
BIRMINGHAM, AL 35233
This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and are well trained in SBA loan requirements.
SBA Loan Program Type
This loan was issued as a general business loan.
7699 - Repair Shops and Related Services
811310 - Commercial and Industrial Machinery and Equipment
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $810,000 loan amount, the SBA guaranteed $607,500.
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 14 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
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 Compass 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.
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