Birmingham, Alabama Business Gets SBA-Guaranteed Funding from First Commercial Bank

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.

Getting a small business loan in Birmingham, Alabama was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Commercial Bank, operating out of Birmingham, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
BIRMINGHAM, AL 35243

SBA Loan Lender

FIRST COMMERCIAL BANK
800 SHADES CREEK PKWY
BIRMINGHAM, AL 35209

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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 Birmingham 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:

The Friends and Family Network

SBA 7A Lenders in Birmingham, Alabama

SBA Alabama Banks