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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Muscle Shoals, Business Loans > Citizens Bank & Savings Co Muscle Shoals Business Loans > Industrial And Commercial Machinery And Equipment Loan | ||||
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SBA Lenders in Alabama
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Machine Shops LoansLooking for loans for machine shops? The SBA may be the answer. This $100,000 machine shops loan was issued by an Alabama bank. Getting a small business loan in Muscle Shoals, Alabama was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank & Savings Co, operating out of Muscle Shoals, Alabama. Here are the details on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT 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 3599 - Industrial and Commercial Machinery and Equipment NAICS Code 332710 - Machine Shops Loan Approval Date 5/12/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank & Savings Co are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Dealing With Venture Capitalists Best Muscle Shoals, Alabama Banks for Small Business
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