Oneonta, Alabama Bank Gives SBA Loan to Metalworking Machinery Manufacturing Company

An Oneonta, Alabama SBA loan can be yours. Learn how a company got a $309,800 business loan from this Alabama bank.

This loan to an entrepreneur is a good example of an SBA loan. The Hometown Bank Of Alabama made the loan and the SBA guaranteed a portion of the loan. Many other Alabama entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING
ONEONTA, AL 35121

SBA Loan Lender

THE HOMETOWN BANK OF ALABAMA
2002 2ND AVE EAST
ONEONTA, AL 35121

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

8/2/2006

Loan Approval Gross Amount

$309,800

Loan Approval from the SBA

Of the total $309,800 loan amount, the SBA guaranteed $232,350.

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 20 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Hometown Bank Of Alabama so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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