Business Loan from Banktrust Given to Hay Farming Company

An SBA loan from Banktrust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Daphne, Alabama business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Daphne, Alabama was able to borrow $100,000 from Banktrust. The SBA made the loan possible by guaranteeing $85,000 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: HAY FARMING
DAPHNE, AL 36526

SBA Loan Lender

BANKTRUST
2507 US HWY 98
DAPHNE, AL 36526

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

111940 - Hay Farming

Loan Approval Date

8/25/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

SBIR Funding

Small Bank Loans in Daphne, Alabama

SBA Lenders in Alabama