Transportation Equipment and Supplies Wholesalers SBA Loans

With these SBA loans for transportation equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This transportation equipment and supplies wholesalers loan for $2,000,000 was given to an Alabama entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Madison, Alabama was able to borrow $2,000,000 from Union Planters Bank. The SBA made the loan possible by guaranteeing $1,000,000 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES
MADISON, AL 35758

SBA Loan Lender

UNION PLANTERS BANK
312 CLINTON AVE WEST
HUNTSVILLE, AL 35801

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5088 - Transportation Equipment and Supplies

NAICS Code

421860 - Transportation Equipment and Supplies Wholesalers

Loan Approval Date

5/16/2001

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.

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 21 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union Planters Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Credit Evaluation

Small Business Banks in Huntsville, Alabama

Alabama SBA Banks