Commercial Loans for Special Trade Contractors
With these commercial loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $150,000 was given to an Alabama entrepreneur in 2001.
This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Financial Bank, out of Hoover, Alabama. The loan was granted and they received $150,000 to help grow their Bessemer, Alabama business.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
BESSEMER, AL 35020
SBA Loan Lender
FIRST FINANCIAL BANK
1604 MONTGOMERY HWY
HOOVER, AL 35216
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires 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
1799 - Special Trade Contractors
NAICS Code
235990 - Special Trade Contractors
Loan Approval Date
7/16/2001
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 an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me!
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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Small Business Banks in Hoover, Alabama
Alabama SBA 7A Lenders