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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Residential Remodelers Loan | ||||
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Alabama Small Business SBA Loans
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Company Gets an Alabama Bank LoanLooking to get an Alabama SBA loan? This Alabama entrepreneur got an SBA loan, provided by a New York bank that works with the SBA to help small business owners. Getting a small business loan in Mobile, Alabama was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this SBA business loan under the SBA's 7A loan, 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. NAICS Code 236118 - Residential Remodelers Loan Approval Date 10/19/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in New York, New York
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