Business Loan from First Commercial Bank Given to Insurance Agents And Brokers Company

First Commercial Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alabama entrepreneur who tapped into the power of SBA loans.

This business knew how to go about getting a business bank loan. Based in Birmingham, Alabama, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First Commercial Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
BIRMINGHAM, AL 35210

SBA Loan Lender

FIRST COMMERCIAL BANK
800 SHADES CREEK PKWY
BIRMINGHAM, AL 35209

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$320,100

Loan Approval from the SBA

Of the total $320,100 loan amount, the SBA guaranteed $240,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 First Commercial 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:

Small Business Credit Cards

Best Birmingham, Alabama Banks for Small Business

Getting an SBA Loan in Alabama