Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Regions Bank Small Business Huntsville, AL

 

 
Loan Census SBA Loan Info

Regions Bank SBA Loan to Full-Service Restaurants Company

Regions Bank 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.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Regions Bank, out of Birmingham, Alabama. The loan was granted and they received $110,000 to help grow their Huntsville, Alabama business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Huntsville, AL 35763

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/17/2006

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $55,000.

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 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regions Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regions 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.

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