Altoona, Alabama Lender Lends Money to Automotive Parts And Accessories Stores Company

Thinking about meeting with an Altoona, Alabama bank about a business loan? Here's one Alabama business loan, issued by an Altoona bank, that was approved by the SBA.

Applying for an SBA loan with The Exchange Bank Of Alabama worked out well for our friends at one local business in Snead, Alabama. They received an SBA loan for $90,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
SNEAD, AL 35952

SBA Loan Lender

THE EXCHANGE BANK OF ALABAMA
CORNER 6TH & BLOUNT ST
ALTOONA, AL 35952

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

2/28/2007

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

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 indicated that the borrowed money would help generate 3 new jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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