Double Springs, Alabama Lender Lends Money to Trucking Company

Get to know Double Springs, Alabama banks that specialize in SBA loans and know how to work with entrepreneurs. Traders & Farmers Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: TRUCKING
DOUBLE SPRINGS, AL 35553

SBA Loan Lender

TRADERS & FARMERS BANK
MAIN ST
DOUBLE SPRINGS, AL 35553

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

6/10/2002

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Traders & Farmers Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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