Borrowing Money for Truck, Utility Trailer, and RV Rental and Leasing

With these loans for truck, utility trailer, and rv rental and leasing, the SBA guarantees the lender that the loan will be repaid. This truck, utility trailer, and rv rental and leasing loan for $930,000 was given to an Alabama entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Decatur, Alabama was able to borrow $930,000 from Renasant Bank. The SBA made the loan possible by guaranteeing $697,500 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: UTILITY TRAILER AND RECREATIONAL VEHICLE RENTAL
DECATUR, AL 35602

SBA Loan Lender

RENASANT BANK
211 LEE ST NE
DECATUR, AL 35602

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7519 - Utility Trailer and Recreational Vehicle Rental

NAICS Code

532120 - Truck, Utility Trailer, and RV Rental and Leasing

Loan Approval Date

10/24/2001

Loan Approval Gross Amount

$930,000

Loan Approval from the SBA

Of the total $930,000 loan amount, the SBA guaranteed $697,500.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Getting an SBA Loan in Alabama