Borrowing Money for Activities Related to Real Estate

With these bank loans for activities related to real estate, the SBA guarantees the lender that the loan will be repaid. This activities related to real estate loan for $125,000 was given to a Florida entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Beach Community Bank, out of Fort Walton Beach, Florida. The loan was granted and they received $125,000 to help grow their Destin, Florida business.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE AGENTS AND MANAGERS
DESTIN, FL 32540

SBA Loan Lender

BEACH COMMUNITY BANK
17 SE EGLIN PKWY
FORT WALTON BEACH, FL 32548

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6531 - Real Estate Agents and Managers

NAICS Code

531390 - Activities Related to Real Estate

Loan Approval Date

8/29/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 5 employees. The SBA loan application for the borrower did not indicate that the small business promised 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?

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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