Destin, Florida Entrepreneur Gets an SBA Loan

Searching for a Florida bank loan? This Florida entrepreneur got a bank loan, provided by a Florida bank that works with the SBA to help small business owners.

This business, based in Destin, 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 Vanguard Bank & Trust Company. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
DESTIN, FL 32541

SBA Loan Lender

VANGUARD BANK & TRUST COMPANY
23 S JOHN SIMS PKWY
VALPARAISO, FL 32580

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

3/25/2005

Loan Approval Gross Amount

$122,600

Loan Approval from the SBA

Of the total $122,600 loan amount, the SBA guaranteed $104,210.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $122,600 loan. Remember, if it to be, it is up to me!

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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Valparaiso, Florida

Florida SBA 7A Banks