Alabama Bank Loan Issued to Certified Public Accountants Company

AlabamaBusiness loans are available to Alabama business owners through the SBA. In this case, an Alabama bank provides the loan.

Getting a small business loan in Trussville, Alabama was a top priority for this SBA-financed company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Covenant Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
TRUSSVILLE, AL 35094

SBA Loan Lender

COVENANT BANK
7908 PARKWAY DR
LEEDS, AL 35094

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

541211 - Certified Public Accountants

Loan Approval Date

1/14/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 5 employees. The SBA loan documents indicated that the loan would help create 2 new jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Trussville AL, you ought to talk with a local Trussville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Trussville businesses.

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:

How Much Venture Capital Is There?

Small Bank Loans in Leeds, Alabama

Alabama SBA 7A Lenders