SBA Loan from Farmers And Merchants Bank Helps Insurance Agents And Brokers Company
Farmers And Merchants 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.
This small firm knew how to go about getting a business bank loan. Based in Oxford, Alabama, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Farmers And Merchants Bank, based in Anniston, Alabama.
SBA Loan Borrower
COMPANY TYPE: INSURANCE AGENTS AND BROKERS
OXFORD, AL 36203
SBA Loan Lender
FARMERS AND MERCHANTS BANK
1429 QUINTARD AVE
ANNISTON, AL 36201
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
6411 - Insurance Agents and Brokers
NAICS Code
524210 - Insurance Agencies and Brokerages
Loan Approval Date
7/19/2000
Loan Approval Gross Amount
$140,000
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $105,000.
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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
If you want money for new small business in Oxford AL, you ought to talk with a local Oxford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oxford businesses.
We can help you find the best banks for small businesses in Oxford or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Direct Public Offerings
Small Bank Loans in Anniston, Alabama
SBA Alabama Banks