Gainesville, Florida Business Gets SBA-Guaranteed Funding from Merchants & Southern Bank

An SBA loan from Merchants & Southern Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gainesville, Florida business owner got a $100,000 loan.

Getting a small business loan in Gainesville, Florida was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Merchants & Southern Bank, operating out of Gainesville, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
GAINESVILLE, FL 32653

SBA Loan Lender

MERCHANTS & SOUTHERN BANK
2040 NW 67TH PL
GAINESVILLE, FL 32653

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

512240 - Sound Recording Studios

Loan Approval Date

10/24/2000

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

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.

Related Links:

Dealing With Venture Capitalists

SBA Participating Banks in Gainesville, Florida

Getting an SBA Loan in Florida