Business Loan from Busey Bank Given to Repair Shops And Related Services Company

An SBA loan from Busey Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bonita Springs, Florida business owner got a $50,000 loan.

Getting a small business loan in Bonita Springs, Florida was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Busey Bank, operating out of Fort Myers, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
BONITA SPRINGS, FL 34135

SBA Loan Lender

BUSEY BANK
7980 SUMMERLIN LAKES DRIVE
FORT MYERS, FL 33907

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

8/25/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Busey Bank and they will explain how you can get an SBA loan for your company.

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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SBA Banks in Fort Myers, Florida

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