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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Birmingham, Business Loans > Bancorpsouth Bank Birmingham Business Loans > Brick, Stone, And Related Construction Materials Loan | ||||
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Bancorpsouth Bank SBA Loans Homewood, Alabama
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Homewood, Alabama Business Gets SBA-Guaranteed Funding from Bancorpsouth BankBancorpsouth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alabama entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bancorpsouth Bank, out of Birmingham, Alabama. The loan was granted and they received $390,000 to help grow their Homewood, Alabama business. SBA Loan Borrower COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIALS SBA Loan Lender BANCORPSOUTH BANK At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5032 - Brick, Stone, and Related Construction Materials NAICS Code 421320 - Loan Approval Date 10/2/2000 Loan Approval Gross Amount $390,000 Loan Approval from the SBA Of the total $390,000 loan amount, the SBA guaranteed $292,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need business start up money in Homewood AL, you ought to talk with a local Homewood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Homewood businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bancorpsouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bancorpsouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Who Lends Money to Small Businesses in Birmingham, Alabama
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