Firm Gets an Alabama SBA Loan

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

You can learn something about getting a small business loan in Southside, Alabama by studying this loan to a local company, made back in 2007. Banks like The Exchange Bank Of Alabama may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
SOUTHSIDE, AL 35906

SBA Loan Lender

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

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

621320 - Optometrists

Loan Approval Date

12/31/2007

Loan Approval Gross Amount

$111,500

Loan Approval from the SBA

Of the total $111,500 loan amount, the SBA guaranteed $55,750.

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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Exchange Bank Of Alabama that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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