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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Atlanta, Business Loans > Regions Bank Atlanta Business Loans > Retail Stores Loan | ||||
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Georgia Bank SBA Loans
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Regions Bank SBA Loan to Retail Stores CompanyWant an Alabama SBA loan? Here's one Alabama business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Alabaster, Alabama, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Regions Bank, based in Atlanta, Georgia. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 6/30/2000 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $24,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Regions Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Atlanta, Georgia Banks for Small Business
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