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April 24, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Alexander City, Business Loans > Wachovia Bank Alexander City Business Loans > Insurance Agents And Brokers Loan | ||||
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Small Business Banks for Alexander City Businesses
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Raising Money for Insurance Agencies and BrokeragesLooking for business loans for insurance agencies and brokerages? The SBA may be the answer. This $497,000 insurance agencies and brokerages loan was issued by an Alabama bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alexander City, Alabama was able to borrow $497,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $372,750 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENTS AND BROKERS SBA Loan Lender WACHOVIA BANK This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6411 - Insurance Agents and Brokers NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 5/10/2002 Loan Approval Gross Amount $497,000 Loan Approval from the SBA Of the total $497,000 loan amount, the SBA guaranteed $372,750. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia 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: Best Banks for Small Business in Alexander City, Alabama
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