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May 1, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Birmingham, Business Loans > Wachovia Bank Birmingham Business Loans > Hardware Manufacturing Loan | ||||
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Birmingham, Alabama Bank for SBA Loans
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Birmingham, Alabama Bank Gives SBA Loan to Hardware Manufacturing CompanyThinking about meeting with a Birmingham, Alabama bank about an SBA loan? Here's one Georgia business loan, issued by a Birmingham bank, that was approved by the SBA. Applying for an SBA loan with Wachovia Bank worked out well for our friends at one local business in Acworth, Georgia. They got an SBA loan for $70,000. Nice! SBA Loan Borrower COMPANY TYPE: HARDWARE MANUFACTURING SBA Loan Lender WACHOVIA BANK This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332510 - Hardware Manufacturing Loan Approval Date 7/23/2003 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, 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: Best Banks for Small Business in Birmingham, Alabama
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