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December 22, 2024  
 
 
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SBA Lender Silverhill Alabama

 

 
Loan Census SBA Loan Info

Growing Company Gets an Alabama Small Business Loan

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

By giving the right information to United Bank, this Silverhill, Alabama business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: ANIMAL SPECIALTY SERVICES
SILVERHILL, AL 36576

SBA Loan Lender

UNITED BANK
200 E NASHVILLE AVE
ATMORE, AL 36502

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0752 - Animal Specialty Services

NAICS Code

812910 - Pet Care Services

Loan Approval Date

6/1/2001

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $58,650.

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. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank 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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