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

Small Business Banks for Phenix City, Alabama Small Businesses

 

 
Loan Census SBA Loan Info

Loan to Buy Miracle Appearance Reconditioning Sp Franchise Issued By Citizens Trust Bank

Borrowing money to buy a Miracle Appearance Reconditioning Sp franchise? Citizens Trust Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Miracle Appearance Reconditioning Sp franchise may simply require a phone call to a local SBA banker. In 2005, Citizens Trust Bank issued an SBA franchise loan to an entrepreneur in Phenix City, Alabama. Because Miracle Appearance Reconditioning Sp was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

MOBILE APPEARANCE RECONDITIONI
PHENIX CITY, AL 36867

SBA Loan Lender

CITIZENS TRUST BANK
6 11TH ST
COLUMBUS, GA 31901

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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

3/24/2005

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $41,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Miracle Appearance Reconditioning Sp franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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SBA 7A Banks in Columbus, Georgia

SBA Lenders in Georgia