Borrowing Money for Baked Goods Stores

With these loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $400,000 was given to an Alabama entrepreneur in 2004.

Getting a small business loan in Pelham, Alabama was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Commercial Bank, operating out of Pelham, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
PELHAM, AL 35124

SBA Loan Lender

FIRST COMMERCIAL BANK
2304 PELHAM PKWY
PELHAM, AL 35124

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

2/3/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 68 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Pelham, Alabama

Getting a Business Loan in Alabama