Entrepreneur Works With Russellville, Alabama Bank to Get an SBA Loan

A Russellville, Alabama small business loan can be yours. Learn how a company got a $674,000 business loan from this Alabama bank.

This loan to a local firm is a good example of an SBA loan. Citizens Bank & Savings Co made the loan and the SBA guaranteed a portion of the loan. Many other Alabama entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: WOOD CONTAINER AND PALLET MANUFACTURING
BLOUNTSVILLE, AL 35031

SBA Loan Lender

CITIZENS BANK & SAVINGS CO
200 S JACKSON AVE
RUSSELLVILLE, AL 35653

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

8/25/2006

Loan Approval Gross Amount

$674,000

Loan Approval from the SBA

Of the total $674,000 loan amount, the SBA guaranteed $505,500.

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 20 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $674,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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