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December 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Athens, Business Loans > Reliance Bank Athens Business Loans > Full-Service Restaurants Loan | ||||
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Athens, Alabama Bank Loan
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Reliance Bank Gives Small Business Loan to Full-Service Restaurants CompanyAlabamaBank loans are available to Alabama firms through the SBA. In this case, an Alabama bank provides the loan. By giving the right information to Reliance Bank, this Athens, Alabama business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender RELIANCE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/23/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 17 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a business in Athens AL, you ought to talk with a local Athens SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Athens businesses. 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 Reliance 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: SBA 7A Lenders in Athens, Alabama
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