Materials Recovery Facilities Commercial Loans

With these commercial loans for materials recovery facilities, the SBA guarantees the lender that the loan will be repaid. This materials recovery facilities loan for $150,000 was given to an Alabama entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Irondale, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Financial Bank, based in Hoover, Alabama.

SBA Loan Borrower

COMPANY TYPE: MATERIALS RECOVERY FACILITIES
IRONDALE, AL 35210

SBA Loan Lender

FIRST FINANCIAL BANK
1604 MONTGOMERY HWY
HOOVER, AL 35216

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

3/13/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Best Hoover, Alabama Banks for Small Business

Getting an SBA Loan in Alabama