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March 4, 2021  
 
 
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Madison SBA Loans

 

 
Loan Census SBA Loan Info

Growing Company Gets an Alabama SBA Loan

Would an Alabama bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Alabama bank, which offers SBA loans to Alabama entrepreneurs.

You can learn something about getting a small business loan in Madison, Alabama by studying this loan to a local company, made back in 2001. Banks like Renasant Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MADISON, AL 35758

SBA Loan Lender

RENASANT BANK
1830 MOADUS RD SOUTHWEST
DECATUR, AL 35603

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/28/2001

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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