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December 21, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Talladega, Business Loans > 1st National Bank - Talladega Talladega Business Loans > Drycleaning And Laundry Services Loan | ||||
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SBA Lenders in Alabama
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Getting an SBA Loan for Drycleaning and Laundry ServicesLooking for commercial loans for drycleaning and laundry services? An SBA loan may be just what you've been looking for. This $718,000 drycleaning and laundry services loan was issued by an Alabama bank. Getting a small business loan in Talladega, Alabama was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Talladega, operating out of Talladega, Alabama. Here are the details on this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender 1ST NATIONAL BANK - TALLADEGA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 6/30/2006 Loan Approval Gross Amount $718,000 Loan Approval from the SBA Of the total $718,000 loan amount, the SBA guaranteed $538,500. 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 8 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Talladega, Alabama
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