First American Bank Gives SBA Loan to Veterinary Services For Animal Specialties Company

Bank loans in Alabama are are few and far betweeen these days. We take a look at one Alabama bank loan, provided by an Alabama bank, that was approved by the SBA.

Getting a small business loan in Hartselle, Alabama was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First American Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES FOR ANIMAL SPECIALTIES
HARTSELLE, AL 35640

SBA Loan Lender

FIRST AMERICAN BANK
589 HWY 31 NW
HARTSELLE, AL 35640

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0742 - Veterinary Services for Animal Specialties

NAICS Code

541940 - Veterinary Services

Loan Approval Date

9/12/2002

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company.

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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