Firm Gets an Alabama Bank Loan

Would an Alabama small business loan help your small business to grow and prosper? If so, you may want to talk with this North Carolina bank, which offers SBA loans to Alabama entrepreneurs.

Getting a small business loan in Trussville, Alabama was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: SECURITY SYSTEMS SERVICES
Trussville, AL 35173

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

561621 - Security Systems Services

Loan Approval Date

1/10/2007

Loan Approval Gross Amount

$348,500

Loan Approval from the SBA

Of the total $348,500 loan amount, the SBA guaranteed $174,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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