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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Russellville, Business Loans > Citizens Bank & Savings Co Russellville Business Loans > Eating Places Loan | ||||
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Getting an SBA Loan in Hartselle, Alabama
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Hartselle, Alabama Entrepreneur Gets an SBA LoanSBA loans in Alabama are hard to find these days. We take a look at one Alabama SBA loan, provided by an Alabama bank, that was approved by the SBA. This company, based in Hartselle, Alabama, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens Bank & Savings Co. We've got the inside scoop on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CITIZENS BANK & SAVINGS CO This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/14/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 35 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks for Russellville, Alabama Loans
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