Bayou La Batre, Alabama Entrepreneur Gets an SBA Loan
Looking 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
BAYOU LA BATRE, AL 36509
SBA Loan Lender
GBC INTERNATIONAL BANK
168 W GARVEY AVE
MONTEREY PARK, CA 91754
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.
336612 - Boat Building
Loan Approval Date
Loan Approval Gross Amount
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.
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