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May 22, 2024  
 
 
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How to Get an SBA 7A Loan in Enterprise, Alabama

 

 
Loan Census SBA Loan Info

Community Bank & Tr - S.E. Alaba Gives SBA Loan to Auto And Home Supply Stores Company

AlabamaSmall business loans are available to Alabama small business owners through the SBA. In this case, an Alabama bank provides the loan.

By giving the right information to Community Bank & Tr - S.E. Alaba, this Enterprise, Alabama business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
ENTERPRISE, AL 36331

SBA Loan Lender

COMMUNITY BANK & TR - S.E. ALABA
901 N BOLL WEEVIL CIR
ENTERPRISE, AL 33630

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441320 - Tire Dealers

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$295,400

Loan Approval from the SBA

Of the total $295,400 loan amount, the SBA guaranteed $221,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Enterprise or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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