Peoples Bank - No. Alabama SBA Loan to Electrical Equipment And Component Manufacturing Company

Peoples Bank - No. Alabama has a track record as a leading provider of SBA loans. Find out how this Alabama entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Arab, Alabama, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Peoples Bank - No. Alabama, based in Cullman, Alabama.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
ARAB, AL 35016

SBA Loan Lender

PEOPLES BANK - NO. ALABAMA
811 SECOND AVE SW
CULLMAN, AL 35055

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$1,365,000

Loan Approval from the SBA

Of the total $1,365,000 loan amount, the SBA guaranteed $1,023,750.

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 61 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Arab or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Financing Your Business

SBA Participating Banks in Cullman, Alabama

SBA Lenders in Alabama