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

Get to know Abbeville, Alabama banks that specialize in small business loans and know how to work with entrepreneurs. Peoplesouth Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Dothan, Alabama starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Peoplesouth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OPERATORS OF NONRESIDENTAL BUILDINGS
DOTHAN, AL 36303

SBA Loan Lender

PEOPLESOUTH BANK
514 KIRKLAND
ABBEVILLE, AL 36310

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

6512 - Operators of Nonresidental Buildings

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

1/24/2002

Loan Approval Gross Amount

$701,400

Loan Approval from the SBA

Of the total $701,400 loan amount, the SBA guaranteed $526,050.

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 SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $701,400. How would you spend $701,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Abbeville, Alabama

Alabama SBA Bank Lenders