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November 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Birmingham, Business Loans > Regions Bank Birmingham Business Loans > Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Loan | ||||
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How to Get SBA Loans in Birmingham, Alabama
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Get an SBA Loan for Medical, Dental, and Hospital Equipment and Supplies Merchant WholesalersLooking for small business loans for medical, dental, and hospital equipment and supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $600,000 medical, dental, and hospital equipment and supplies merchant wholesalers loan was issued by an Alabama bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Birmingham, Alabama was able to borrow $600,000 from Regions Bank. The SBA made the loan possible by guaranteeing $450,000 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender REGIONS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers Loan Approval Date 4/19/2006 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 16 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My 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. 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 $600,000 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. Related Links: Best Banks for Small Business in Birmingham, Alabama
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