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December 24, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Winfield, Business Loans > First St. Bank - South Inc. Winfield Business Loans > Used Merchandise Stores Loan | ||||
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Alabama Bank SBA Loans
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Winfield, Alabama Bank Gives SBA Loan to Used Merchandise Stores CompanyA Winfield, Alabama business loan can be yours. Learn how a company got a $20,000 business loan from this Alabama bank. This loan to an entrepreneur is a good example of an SBA loan. First St. Bank - South Inc. made the loan and the SBA guaranteed a portion of the loan. Many other Alabama entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender FIRST ST. BANK - SOUTH INC. This lender issued this particular debt financing 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 5932 - Used Merchandise Stores NAICS Code 453310 - Used Merchandise Stores Loan Approval Date 7/31/2002 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Who Lends Money to Small Businesses in Winfield, Alabama
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