Where to Get Capital for New Single-Family Housing Construction
Looking for SBA loans for new single-family housing construction? An SBA loan may be just what you've been looking for. This $25,000 new single-family housing construction loan was issued by an Alabama bank.
Getting a small business loan in Loxley, Alabama was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank, operating out of Birmingham, Alabama. Here are the details on this Alabama small business loan.
SBA Loan Borrower
COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
LOXLEY, AL 36551
SBA Loan Lender
15 S 20TH ST
BIRMINGHAM, AL 35233
This lender processed this SBA 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.
236115 - New Single-Family Housing Construction
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
Small Business Banks in Birmingham, Alabama
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