Suntrust Bank SBA Loan to Fabricated Metal Products Company

Looking to get an Alabama SBA loan? Here's one Alabama business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Lexington, Alabama back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Florence, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
LEXINGTON, AL 35648

SBA Loan Lender

SUNTRUST BANK
201 S COURT ST
FLORENCE, AL 35630

This lender issued this business loan under the SBA's 7(a) guaranteed loan 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.

SIC Code

3499 - Fabricated Metal Products

Loan Approval Date

6/27/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 100 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Lexington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Strategic Investors

SBA 7A Banks for Florence, Alabama Loans

SBA Alabama Lenders