Homes for the Elderly Bank Loans

With these bank loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $1,875,000 was given to a Florida entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cape Coral, Florida was able to borrow $1,875,000 from Business Lenders, LLC. The SBA made the loan possible by guaranteeing $1,406,250 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
CAPE CORAL, FL 33991

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

4/11/2006

Loan Approval Gross Amount

$1,875,000

Loan Approval from the SBA

Of the total $1,875,000 loan amount, the SBA guaranteed $1,406,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Lenders, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Hartford, Connecticut

Connecticut SBA Bank Lenders