Alabama Business Loan Issued to Brick, Stone, And Related Construction Material Merchant Wholesalers Company

Business loans in Alabama are hard to find these days. We take a look at one Alabama business loan, provided by a Mississippi bank, that was approved by the SBA.

Getting a small business loan in Summerdale, Alabama was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
SUMMERDALE, AL 36580

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423320 - Brick, Stone, and Related Construction Material Merchant Wholesalers

Loan Approval Date

12/17/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 18 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hancock Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Startup Funding Tip

SBA Approved Banks in Gulfport, Mississippi

SBA Mississippi Lenders