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November 14, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Panama City, Business Loans > Vision Bank Panama City Business Loans > Book Publishing Loan | ||||
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Business Loan from Vision Bank
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Business Loan from Vision Bank Given to Book Publishing CompanyVision 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 Alabama entrepreneur who tapped into the power of SBA loans. This business knew how to go about getting a business bank loan. Based in Gulf Shores, Alabama, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Vision Bank, based in Panama City, Florida. SBA Loan Borrower COMPANY TYPE: BOOK PUBLISHING SBA Loan Lender VISION BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2731 - Book Publishing NAICS Code 512230 - Music Publishers Loan Approval Date 10/12/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Find an SBA Lender in Panama City, Florida
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