Foley, Alabama Business Gets SBA-Guaranteed Funding from Vision Bank

Vision Bank has a track record as a leading provider of SBA loans. Find out how this Alabama entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Vision Bank, out of Panama City, Florida. The loan was granted and they received $60,000 to help grow their Foley, Alabama business.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
FOLEY, AL 36535

SBA Loan Lender

VISION BANK
2200 STANFORD RD
PANAMA CITY, FL 32405

This lender issued this particular bank loan 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

5023 - Homefurnishings

Loan Approval Date

8/28/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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