Alabaster, Alabama Entrepreneur Gets a Bank Loan
Small business loans in Alabama are are few and far betweeen these days. We take a look at one Alabama small business loan, provided by a Virginia bank, that was approved by the SBA.
By giving the right information to Capital One, this Alabaster, Alabama business was able to get an SBA loan. To get this loan, the loan applicant 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: JANITORIAL SERVICES
ALABASTER, AL 35007
SBA Loan Lender
1680 CAPITAL ONE DR
MCLEAN, VA 22102
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
561720 - Janitorial Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 16 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 16 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
Dealing With Venture Capitalists
Who Lends Money to Small Businesses in Mclean, Virginia
SBA Participating Banks in Virginia