Orange Beach, Alabama Entrepreneur Gets a Business Loan

SBA loans in Alabama are are few and far betweeen these days. We take a look at one Alabama SBA loan, provided by a Florida bank, that was approved by the SBA.

Getting a small business loan in Orange Beach, Alabama was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Pensacola. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
ORANGE BEACH, AL 36561

SBA Loan Lender

BANK OF PENSACOLA
125 W ROMANA ST
PENSACOLA, FL 32502

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

448120 - Women's Clothing Stores

Loan Approval Date

4/19/2005

Loan Approval Gross Amount

$131,200

Loan Approval from the SBA

Of the total $131,200 loan amount, the SBA guaranteed $111,520.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the small business planned 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 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Pensacola, Florida

Find an SBA Lender in Florida