Entrepreneur Works With Hartselle, Alabama Bank to Get an SBA Loan

Get business loans from a Hartselle, Alabama bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

First American Bank is a Hartselle, Alabama small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Alabama company.

SBA Loan Borrower

COMPANY TYPE: CONSUMER GOODS RENTAL
HARTSELLE, AL 35640

SBA Loan Lender

FIRST AMERICAN BANK
589 HWY 31 NW
HARTSELLE, AL 35640

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$189,000

Loan Approval from the SBA

Of the total $189,000 loan amount, the SBA guaranteed $141,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First American Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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