Raising Money for Paint and Coating Manufacturing

Looking for business loans for paint and coating manufacturing? The SBA may be the answer. This $65,000 paint and coating manufacturing loan was issued by an Alabama bank.

This small business knew how to go about getting a business bank loan. Based in Flomaton, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Regions Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: PAINTS, VARNISHES, LACQUERS, AND ENAMELS
FLOMATON, AL 36441

SBA Loan Lender

REGIONS BANK
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203

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

2851 - Paints, Varnishes, Lacquers, and Enamels

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

4/25/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Banking Deregulation's Effects on Entrepreneurship

SBA Participating Banks in Birmingham, Alabama

SBA Alabama Banks