Fernandina Beach, Florida Business Gets SBA-Guaranteed Funding from First Coast Community Bank
First Coast Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Florida entrepreneur who tapped into the power of SBA loans.
This business knew how to go about getting a business bank loan. Based in Fernandina Beach, Florida, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First Coast Community Bank, based in Fernandina Beach, Florida.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
FERNANDINA BEACH, FL 32034
SBA Loan Lender
FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
6/18/2002
Loan Approval Gross Amount
$46,000
Loan Approval from the SBA
Of the total $46,000 loan amount, the SBA guaranteed $39,100.
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 6 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Coast Community Bank 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.
Related Links:
A Company That Helps Entrepreneurs
Where to Get an SBA Loan in Fernandina Beach, Florida
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