Firm Gets an Alabama Bank Loan

Would an Alabama small business loan help your small business to grow and prosper? If so, you may want to talk with this Alabama bank, which offers SBA loans to Alabama entrepreneurs.

This small business, based in Fairfield, Alabama, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens Trust Bank. We've got the inside scoop on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
FAIRFIELD, AL 35214

SBA Loan Lender

CITIZENS TRUST BANK
1700 3RD AVE NORTH
BIRMINGHAM, AL 35203

This lender issued this debt financing 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

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

6/8/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens Trust Bank and they will explain how you can get an SBA loan for your company.

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:

Accountant's Role in Securing Financing

SBA 7A Banks for Birmingham, Alabama Loans

Alabama SBA Bank Lenders