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December 22, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Panama City, Business Loans > Vision Bank Panama City Business Loans > Gift, Novelty, And Souvenir Shops Loan | ||||
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Gulf Shores SBA Loans
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Local Business Gets an Alabama Bank LoanAlabamaBusiness loans are available to Alabama business owners through the SBA. In this case, a Florida bank provides the loan. You can learn something about getting a small business loan in Gulf Shores, Alabama by studying this loan to a local business, made back in 2001. Banks like Vision Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS SBA Loan Lender VISION BANK This lender issued this particular SBA 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 5947 - Gift, Novelty, and Souvenir Shops NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 4/11/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, where there is a will, there is a way! 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Panama City, Florida
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