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April 23, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Atmore, Business Loans > United Bank Atmore Business Loans > Plumbing, Heating, And Air-Conditioning Loan | ||||
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How to Get an SBA Loan in Gulf Shores, Alabama
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Gulf Shores, Alabama Entrepreneur Gets an SBA LoanSearching for an Alabama bank loan? This Alabama entrepreneur got a bank loan, provided by an Alabama bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Gulf Shores, Alabama by studying this loan to a local company, made back in 2001. Banks like United Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING SBA Loan Lender UNITED BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1711 - Plumbing, Heating, and Air-Conditioning NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 7/18/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 16 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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:
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