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April 25, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Eufaula, Business Loans > Midsouth Bank Eufaula Business Loans > Crop Harvesting, Primarily By Machine Loan | ||||
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Alabama SBA 7A Lenders
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Eufaula, Alabama Lender Lends Money to Crop Harvesting, Primarily By Machine CompanyGet business loans from an Eufaula, Alabama bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Midsouth Bank is a Eufaula, Alabama small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Alabama company. SBA Loan Borrower COMPANY TYPE: CROP HARVESTING, PRIMARILY BY MACHINE SBA Loan Lender MIDSOUTH BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0722 - Crop Harvesting, Primarily by Machine NAICS Code 115113 - Crop Harvesting, Primarily by Machine Loan Approval Date 2/25/2000 Loan Approval Gross Amount $41,800 Loan Approval from the SBA Of the total $41,800 loan amount, the SBA guaranteed $33,440. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $41,800 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Borrowing Money from Friends and Family Small Bank Loans in Eufaula, Alabama
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