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May 2, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Montgomery, Business Loans > Regions Bank Montgomery Business Loans > Construction Sand And Gravel Mining Loan | ||||
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Montgomery Bank Loan
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Montgomery, Alabama Bank Lends Money to Construction Sand And Gravel Mining Company in Maynard, ArkansasThinking about meeting with a Montgomery, Alabama bank about a business loan? Here's one Arkansas business loan, issued by a Montgomery bank, that was approved by the SBA. Applying for an SBA loan with Regions Bank worked out well for our friends at one local company in Maynard, Arkansas. They got an SBA loan for $500,000. Awesome! SBA Loan Borrower COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING SBA Loan Lender REGIONS BANK This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 212321 - Construction Sand and Gravel Mining Loan Approval Date 8/8/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 6 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Regions Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Where to Get an SBA Loan in Montgomery, Alabama
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