Peoples First Community Bank Gives Small Business Loan to Hardwood Veneer And Plywood Company

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

By giving the right information to Peoples First Community Bank, this Apopka, Florida business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: HARDWOOD VENEER AND PLYWOOD
APOPKA, FL 32703

SBA Loan Lender

PEOPLES FIRST COMMUNITY BANK
116 E ALTAMONTE SPRINGS DR
ALTAMONTE SPRINGS, FL 32701

This lender issued this particular SBA bank 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

2435 - Hardwood Veneer and Plywood

NAICS Code

321211 - Hardwood Veneer and Plywood Manufacturing

Loan Approval Date

1/25/2000

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $101,250.

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 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Equity Financing

SBA Approved Banks in Altamonte Springs, Florida

Florida SBA 7A Lenders