SBA Loan from Citizens Bank & Savings Co Helps Shoe Stores Company

Citizens Bank & Savings Co and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alabama entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Russellville, Alabama was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank & Savings Co, operating out of Russellville, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
RUSSELLVILLE, AL 35653

SBA Loan Lender

CITIZENS BANK & SAVINGS CO
200 S JACKSON AVE
RUSSELLVILLE, AL 35653

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

5661 - Shoe Stores

NAICS Code

448210 - Shoe Stores

Loan Approval Date

10/23/2002

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank & Savings Co had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank & Savings Co made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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