SBA Loan Programs

For start up businesses, you will need to present to your banker the following:

1.   Amount of loan request and purpose for which it is to be used.
2.   Amount you and others have to invest in the business.
3.   Personal financial statements of the owners.
4.   Detailed projection of earnings and expenses for at least the first year of operations.
5.   Collateral offered.

The Borrego Springs Bank SBA Community Express Loan is a financing option for businesses in Alabama. Borrego Springs loans provide working capital to small businesses, from $5,000 to $50,000. The loan is unsecured, has a seven-year term and the interest is tied to the prime rate. All fees are deducted from loan proceeds; meaning that you only pay the fee if you are approved. All industries are considered and start-up and existing businesses are both eligible for the program.

If you have any questions regarding this loan or other loans available to small businesses, please contact our office at:

(205) 348-1582
Fax: (205) 348-6974

Small Business Development Center
201 Bidgood Hall
Box 870397
Tuscaloosa, Alabama 35487-0397