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April 18, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Birmingham, Business Loans > First American Bank Birmingham Business Loans > Gasoline Service Stations Loan | ||||
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Birmingham, Alabama SBA 7A Banks
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Birmingham, Alabama Bank Gives SBA Loan to Gasoline Service Stations CompanyWant to talk with a Birmingham, Alabama bank about a small business loan? Here's one Alabama business loan, issued by a Birmingham bank, that was approved by the SBA. Applying for an SBA loan with First American Bank worked out well for our friends at one local business in Pelham, Alabama. They received an SBA loan for $50,000. Way to go! SBA Loan Borrower COMPANY TYPE: GASOLINE SERVICE STATIONS SBA Loan Lender FIRST AMERICAN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5541 - Gasoline Service Stations Loan Approval Date 4/3/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 loan application did not indicate that the company promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company. 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:
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