SBA Loan from Alabama Tr Bank Helps Limited-Service Restaurants Company

An SBA loan from Alabama Tr Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sylacauga, Alabama business owner got a $146,400 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sylacauga, Alabama was able to borrow $146,400 from Alabama Tr Bank. The SBA made the loan possible by guaranteeing $124,440 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SYLACAUGA, AL 35150

SBA Loan Lender

ALABAMA TR BANK
101 W FT. WILLIAMS ST
SYLACAUGA, AL 35150

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$146,400

Loan Approval from the SBA

Of the total $146,400 loan amount, the SBA guaranteed $124,440.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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