Company Gets an Alabama Small Business Loan

Would an Alabama SBA loan help your business get to the next level? If so, you may want to talk with this California bank, which offers SBA loans to Alabama entrepreneurs.

Getting a small business loan in Birmingham, Alabama was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Sba Lending, Inc.. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: FINISH CARPENTRY CONTRACTORS
BIRMINGHAM, AL 35235

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238350 - Finish Carpentry Contractors

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$540,200

Loan Approval from the SBA

Of the total $540,200 loan amount, the SBA guaranteed $405,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

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

If you are working on finding money to start a business in Birmingham AL, you ought to talk with a local Birmingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Birmingham businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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