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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Sheffield, Business Loans > Bank Independent Sheffield Business Loans > Water, Sewer, And Utility Lines Loan | ||||
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Sheffield, Alabama SBA Lenders
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Sheffield, Alabama Bank Gives SBA Loan to Water, Sewer, And Utility Lines CompanyA Sheffield, Alabama SBA loan can be yours. Learn how a company got a $125,000 business loan from this Alabama bank. This loan to a local firm is a good example of an SBA loan. Bank Independent 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: WATER, SEWER, AND UTILITY LINES SBA Loan Lender BANK INDEPENDENT This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1623 - Water, Sewer, and Utility Lines NAICS Code 234910 - Water, Sewer, and Pipeline Construction Loan Approval Date 12/30/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Independent and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Sheffield, Alabama Getting an SBA Loan in Alabama
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