Company Gets an Alabama Small Business Loan
AlabamaSBA loans are available to Alabama entrepreneurs through the SBA. In this case, an Alabama bank provides the loan.
This company, based in Auburn, Alabama, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First American Bank. We've got the inside scoop on this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
AUBURN, AL 36830
SBA Loan Lender
FIRST AMERICAN BANK
605 2ND AVE
OPELIKA, AL 36801
This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations.
SBA Loan Program Type
This loan was issued as a general business loan.
5813 - Drinking Places
722410 - Drinking Places
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $172,000 loan amount, the SBA guaranteed $129,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company.
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.
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