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.
5411 - Grocery Stores
445110 - Supermarkets and Grocery Stores
Loan Approval Date
Loan Approval Gross Amount
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.
Startup Funding Tip
Who Lends Money to Small Businesses in Tuscaloosa, Alabama
Alabama SBA 7A Lenders