Where to Get Capital for General Rental Centers

With these SBA loans for general rental centers, the SBA guarantees the lender that the loan will be repaid. This general rental centers loan for $240,000 was given to an Alabama entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Huntsville, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Renasant Bank, based in Madison, Alabama.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
HUNTSVILLE, AL 35806

SBA Loan Lender

RENASANT BANK
7600 HWY 72 WEST
MADISON, AL 35800

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532310 - General Rental Centers

Loan Approval Date

2/4/2003

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Renasant Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Renasant Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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