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October 17, 2021  
 
 
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Loan Census SBA Loan Info

Alabama Bank Loan Issued to Grocery Stores Company

Bank loans in Alabama are are few and far betweeen these days. We take a look at one Alabama bank loan, provided by an Alabama bank, that was approved by the SBA.

Getting a small business loan in Brookwood, Alabama was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Tuscaloosa. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BROOKWOOD, AL 35444

SBA Loan Lender

THE BANK OF TUSCALOOSA
2209 9TH ST, STE 300
TUSCALOOSA, AL 35401

This 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.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 35 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Startup Funding Tip

Who Lends Money to Small Businesses in Tuscaloosa, Alabama

Alabama SBA 7A Lenders