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April 18, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Montgomery, Business Loans > First Tuskegee Bank Montgomery Business Loans > Child Day Care Services Loan | ||||
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Getting a Small Business Loan in Montgomery, Alabama
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Montgomery, Alabama Entrepreneur Gets an SBA LoanSearching for an Alabama business loan? This Alabama entrepreneur got a business loan, provided by an Alabama bank that works with the SBA to help small business owners. By giving the right information to First Tuskegee Bank, this Montgomery, Alabama business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender FIRST TUSKEGEE BANK This loan for a small business was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 12/22/2004 Loan Approval Gross Amount $209,000 Loan Approval from the SBA Of the total $209,000 loan amount, the SBA guaranteed $156,750. 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 8 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Tuskegee Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Tuskegee 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. Related Links: SBA 7A Lenders in Montgomery, Alabama
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