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January 21, 2021  
 
 
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Alabama Small Business Funding

 

 
Loan Census SBA Loan Info

Raising Money for Saw Blade and Handsaw Manufacturing

Looking for business loans for saw blade and handsaw manufacturing? Try the SBA. This $400,000 saw blade and handsaw manufacturing loan was issued by an Alabama bank.

Getting a small business loan in Tuscumbia, Alabama was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Independent, operating out of Muscle Shoals, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: SAW BLADE AND HANDSAW MANUFACTURING
TUSCUMBIA, AL 35674

SBA Loan Lender

BANK INDEPENDENT
1109 E AVALON AVENUE
MUSCLE SHOALS, AL 35661

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332213 - Saw Blade and Handsaw Manufacturing

Loan Approval Date

4/25/2006

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 18 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, 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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Banks in Muscle Shoals, Alabama

Alabama SBA Banks