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April 16, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Monterey Park, Business Loans > Gbc International Bank Monterey Park Business Loans > Boat Building Loan | ||||
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Bayou La Batre SBA Loans
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Bayou La Batre, Alabama Entrepreneur Gets an SBA LoanLooking to get an Alabama SBA loan? This Alabama entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners. This small business, based in Bayou La Batre, 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 Gbc International Bank. We've got the inside scoop on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: BOAT BUILDING SBA Loan Lender GBC INTERNATIONAL BANK This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336612 - Boat Building Loan Approval Date 12/21/2004 Loan Approval Gross Amount $1,454,235 Loan Approval from the SBA Of the total $1,454,235 loan amount, the SBA guaranteed $1,308,812. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, 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: The Friends and Family Network SBA Participating Banks in Monterey Park, California
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