Alabama SBA Loan Issued to Bands, Orchestras, Actors And Entertainment Company

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

You can learn something about getting a small business loan in Tuscaloosa, Alabama by studying this loan to a local business, made back in 2001. Banks like Cadence Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BANDS, ORCHESTRAS, ACTORS AND ENTERTAINMENT
TUSCALOOSA, AL 35405

SBA Loan Lender

CADENCE BANK
1101 GREENSBORO AVE
TUSCALOOSA, AL 35401

This lender issued this particular SBA 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

7929 - Bands, Orchestras, Actors and Entertainment

NAICS Code

711190 - Performing Arts Companies

Loan Approval Date

8/22/2001

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $10,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 - Getting Venture Capital

SBA Participating Banks in Tuscaloosa, Alabama

Alabama SBA 7A Lenders