Tuscaloosa, Alabama Bank Gives SBA Loan to Functions Related To Depositor Banking, N.E.C Company

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

Applying for an SBA loan with The Bank Of Tuscaloosa worked out well for our friends at one local business in Thomasville, Alabama. They received an SBA loan for $50,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: FUNCTIONS RELATED TO DEPOSITOR BANKING, N.E.C
THOMASVILLE, AL 36784

SBA Loan Lender

THE BANK OF TUSCALOOSA
2209 9TH ST, STE 300
TUSCALOOSA, AL 35401

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6099 - Functions Related to Depositor Banking, N.E.C

Loan Approval Date

8/8/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Bank Of Tuscaloosa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Tuscaloosa, Alabama

SBA Lenders in Alabama