Alabama Small Business Loan Issued to Flowers, Nursery Stock, And Florists Supplies Company
SBA loans in Alabama are tough to come by these days. We take a look at one Alabama SBA loan, provided by an Alabama bank, that was approved by the SBA.
By giving the right information to First Bank Of The South, this Henagar, Alabama business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: FLOWERS, NURSERY STOCK, AND FLORISTS SUPPLIES
HENAGAR, AL 35978
SBA Loan Lender
FIRST BANK OF THE SOUTH
17583 ALABAMA HWY 75 NORTH
HENAGAR, AL 35978
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5193 - Flowers, Nursery Stock, and Florists Supplies
NAICS Code
422930 - Flower, Nursery Stock, and Florists' Supplies Wholesalers
Loan Approval Date
4/26/2002
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 2 employees. The SBA loan documents did not indicate that the business planned 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?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Realistic Debt Financing Options
SBA Banks in Henagar, Alabama
Getting a Business Loan in Alabama