Merchants & Southern Bank SBA Loan to Gasoline Service Stations Company

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 $337,500 loan.

This business knew how to go about getting a business bank loan. Based in Gainesville, Florida, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Merchants & Southern Bank, based in Gainesville, Florida.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
GAINESVILLE, FL 32609

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$337,500

Loan Approval from the SBA

Of the total $337,500 loan amount, the SBA guaranteed $253,125.

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 18 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Merchants & Southern 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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Gainesville, Florida

Getting an SBA Loan in Florida