Colonial Bank SBA Loan to Schools And Educational Services Company

Colonial Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alabama entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Muscle Shoals, Alabama was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Colonial Bank, operating out of Montgomery, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES
MUSCLE SHOALS, AL 35661

SBA Loan Lender

COLONIAL BANK
100 COLONIAL BANK BLVD
MONTGOMERY, AL 36117

This lender issued this particular commercial 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

8299 - Schools and Educational Services

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Business Credit Evaluation

Find an SBA Lender in Montgomery, Alabama

Where to Get an SBA Loan Alabama