Alabama SBA Loan Issued to Commercial Laundry And Drycleaning Equipment Company

AlabamaBank loans are available to Alabama firms through the SBA. In this case, an Alabama bank provides the loan.

Getting a small business loan in Montgomery, 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 Aliant Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT
MONTGOMERY, AL 36108

SBA Loan Lender

ALIANT BANK
2740 ZELDA RD
MONTGOMERY, AL 36106

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3582 - Commercial Laundry and Drycleaning Equipment

NAICS Code

333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing

Loan Approval Date

12/1/2003

Loan Approval Gross Amount

$96,100

Loan Approval from the SBA

Of the total $96,100 loan amount, the SBA guaranteed $81,685.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 9 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Aliant Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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