Muscle Shoals, AL Entrepreneur Gets SBA Loan to Buy Altracolor Franchise

Borrowing money to buy an Altracolor franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Altracolor franchise? If so, here's a 2001 SBA franchise loan that you should know about. Suntrust Bank was the lender and the entrepreneur was based in Muscle Shoals, Alabama.

SBA Loan Borrower

ALTRACOLOR
MUSCLE SHOALS, AL 35661

SBA Loan Lender

SUNTRUST BANK
1411 WOODWARD AVE
MUSCLE SHOALS, AL 35661

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

7/26/2001

Loan Approval Gross Amount

$58,800

Loan Approval from the SBA

Of the total $58,800 loan amount, the SBA guaranteed $49,980.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Altracolor franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust 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:

Altracolor Systems

A Company That Helps Entrepreneurs

Good Banks for Small Business in Muscle Shoals, Alabama

Alabama SBA 7A Lenders