Growing Company Gets an Alabama Bank Loan

Looking to get an Alabama bank loan? This Alabama entrepreneur got a bank loan, provided by an Alabama bank that works with the SBA to help small business owners.

Getting a small business loan in Tuscaloosa, Alabama was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Cadence Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
TUSCALOOSA, AL 35404

SBA Loan Lender

CADENCE BANK
1615 MCFARLAND BLVD NE
TUSCALOOSA, AL 35406

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/5/2000

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 16 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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. Cadence Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cadence 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:

Small Business Loan

Small Bank Loans in Tuscaloosa, Alabama

Alabama SBA 7A Banks