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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Atmore, Business Loans > United Bank Atmore Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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SBA Lender Flomaton, Alabama
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Flomaton, Alabama Business Gets SBA-Guaranteed Funding from United BankUnited Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alabama entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Flomaton, Alabama was able to borrow $69,100 from United Bank. The SBA made the loan possible by guaranteeing $58,735 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender UNITED BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 12/14/2005 Loan Approval Gross Amount $69,100 Loan Approval from the SBA Of the total $69,100 loan amount, the SBA guaranteed $58,735. 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 application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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
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