Business Loan from Colonial Bank Given to Coin-Operated Amusement Devices Company

Colonial Bank has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bradenton, Florida was able to borrow $50,000 from Colonial Bank. The SBA made the loan possible by guaranteeing $42,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES
BRADENTON, FL 34207

SBA Loan Lender

COLONIAL BANK
2 N TAMIAMI TRL, STE 100
SARASOTA, FL 34236

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7993 - Coin-Operated Amusement Devices

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

3/1/2002

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

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Bradenton FL, you ought to talk with a local Bradenton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bradenton businesses.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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