Entrepreneur Works With Bessemer, Alabama Bank to Get an SBA Loan
Thinking about meeting with a Bessemer, Alabama bank about a small business loan? Here's one Alabama business loan, issued by a Bessemer bank, that was approved by the SBA.
Applying for an SBA loan with First Financial Bank worked out well for our friends at one local firm in Birmingham, Alabama. The business was able to get an SBA loan for $360,000. Great job!
SBA Loan Borrower
COMPANY TYPE: SECURITY SYSTEMS SERVICES
BIRMINGHAM, AL 35233
SBA Loan Lender
FIRST FINANCIAL BANK
1630 4TH AVE NORTH
BESSEMER, AL 35020
This debt financing 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.
561621 - Security Systems Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $360,000 loan amount, the SBA guaranteed $270,000.
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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Financial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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