Firm Gets a Florida Small Business Loan
FloridaSmall business loans are available to Florida small business owners through the SBA. In this case, a Tennessee bank provides the loan.
This small business, based in Delray Beach, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Community So. Bank D.B.A Commun. We've got the inside scoop on this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: JANITORIAL SERVICES
DELRAY BEACH, FL 33484
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902
This lender issued this particular 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.
NAICS Code
561720 - Janitorial Services
Loan Approval Date
7/8/2004
Loan Approval Gross Amount
$123,000
Loan Approval from the SBA
Of the total $123,000 loan amount, the SBA guaranteed $104,550.
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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community So. Bank D.B.A Commun so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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