Northwest Savings Bank SBA Loan to Industrial Supplies Company

Searching for a Florida business loan? Here's one Florida business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Northwest Savings Bank, out of Plantation, Florida. The loan was granted and they received $100,000 to help grow their Ft. Lauderdale, Florida business.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES
FT. LAUDERDALE, FL 33315

SBA Loan Lender

NORTHWEST SAVINGS BANK
950 S PINE ISLAND RD, STE 180
PLANTATION, FL 33324

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5085 - Industrial Supplies

Loan Approval Date

3/2/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 5 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northwest Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northwest Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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