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May 5, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Birmingham, Business Loans > Regions Bank Birmingham Business Loans > Beauty Shops Loan | ||||
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Alabama SBA Banks
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Birmingham, Alabama Lender Lends Money to Beauty Shops CompanyThinking about meeting with a Birmingham, Alabama bank about an SBA loan? Here's one Florida business loan, issued by a Birmingham bank, that was approved by the SBA. Applying for an SBA loan with Regions Bank worked out well for our friends at one local firm in Panama City, Florida. They got an SBA loan for $71,668. Sweet! SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 1/31/2001 Loan Approval Gross Amount $71,668 Loan Approval from the SBA Of the total $71,668 loan amount, the SBA guaranteed $60,917. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regions Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regions 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Birmingham, Alabama Getting an SBA Loan in Alabama
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