Entrepreneur Works With Boca Raton, Florida Bank to Get an SBA Loan

Get to know Boca Raton, Florida banks that specialize in business loans and know how to work with entrepreneurs. 1st United Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Coconut Creek, Florida starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from 1st United Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
COCONUT CREEK, FL 33073

SBA Loan Lender

1ST UNITED BANK
ONE NORTH FEDERAL HWY
BOCA RATON, FL 33432

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

3/17/2003

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

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

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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