How to Get a Loan for General Merchandise Stores
With these business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $132,000 was given to a Florida entrepreneur in 2000.
This small business knew how to go about getting a business bank loan. Based in Fernandina Beach, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Coast Community Bank, based in Fernandina Beach, Florida.
SBA Loan Borrower
COMPANY TYPE: VARIETY STORES
FERNANDINA BEACH, FL 32034
SBA Loan Lender
FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034
This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5331 - Variety Stores
NAICS Code
452990 - General Merchandise Stores
Loan Approval Date
3/2/2000
Loan Approval Gross Amount
$132,000
Loan Approval from the SBA
Of the total $132,000 loan amount, the SBA guaranteed $99,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This SBA loan was for $132,000. How would you spend $132,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Accountant's Role in Securing Financing
SBA Banks in Fernandina Beach, Florida
SBA Participating Banks in Florida