Birmingham, Alabama Bank Gives SBA Loan to Electrical Apparatus, Equipment, Wiring Supplies And Construction Materials Company

Find Birmingham, Alabama banks that specialize in SBA loans and know how to work with entrepreneurs. Regions Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Jackson, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Regions Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS
JACKSON, TN 38305

SBA Loan Lender

REGIONS BANK
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials

Loan Approval Date

3/25/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 12 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

SBA Participating Banks in Birmingham, Alabama

SBA Lenders in Alabama