Hamilton, Alabama Business Gets SBA-Guaranteed Funding from First St. Bank - South Inc.
First St. Bank - South Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alabama entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hamilton, Alabama was able to borrow $50,000 from First St. Bank - South Inc.. The SBA made the loan possible by guaranteeing $40,000 of this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: FURNITURE
HAMILTON, AL 35570
SBA Loan Lender
FIRST ST. BANK - SOUTH INC.
THIRD AVE & MILITARY RD
HAMILTON, AL 35570
This was a Low Documentation SBA loan. The SBA created 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. 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.
5021 - Furniture
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $40,000.
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 2 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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