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December 24, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Hamilton, Business Loans > First St. Bank - South Inc. Hamilton Business Loans > Furniture Loan | ||||
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First St. Bank - South Inc. Hamilton
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Hamilton, Alabama Business Gets SBA-Guaranteed Funding from First St. Bank - South Inc.First St. Bank - South Inc. 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 Hamilton, Alabama was able to borrow $50,000 from First St. Bank - South Inc.. The SBA made the loan possible by guaranteeing $40,000 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE SBA Loan Lender FIRST ST. BANK - SOUTH INC. This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5021 - Furniture Loan Approval Date 8/18/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Good Banks for Small Business in Hamilton, Alabama
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