First Commercial Bank Gives Business Loan to Tires And Tubes Company

Bank loans in Alabama are tough to come by 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 Huntsville, Alabama was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Commercial Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRES AND TUBES
HUNTSVILLE, AL 35801

SBA Loan Lender

FIRST COMMERCIAL BANK
301 WASHINGTON ST
HUNTSVILLE, AL 35801

This SBA loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5014 - Tires and Tubes

NAICS Code

441320 - Tire Dealers

Loan Approval Date

1/8/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 12 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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Who Lends Money to Small Businesses in Huntsville, Alabama

Where to Get an SBA Loan Alabama